OneAscent Financial Services LLC Has $1.46 Million Stock Position in Visa Inc. (NYSE:V)

OneAscent Financial Services LLC cut its stake in Visa Inc. (NYSE:V) by 13.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,308 shares of the credit-card processor’s stock after selling 852 shares during the period. Visa comprises approximately 1.0% of OneAscent Financial Services LLC’s holdings, making the stock its 17th largest holding. OneAscent Financial Services LLC’s holdings in Visa were worth $1,459,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of V. Peterson Financial Group Inc. acquired a new position in shares of Visa in the 3rd quarter worth approximately $26,000. POM Investment Strategies LLC raised its position in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Reston Wealth Management LLC bought a new position in Visa in the 3rd quarter valued at $31,000. TruNorth Capital Management LLC grew its holdings in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of Visa during the second quarter worth $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Up 0.8 %

Shares of V stock opened at $312.16 on Tuesday. Visa Inc. has a 12-month low of $245.60 and a 12-month high of $312.44. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average of $287.57 and a 200-day moving average of $276.32. The company has a market capitalization of $568.85 billion, a price-to-earnings ratio of 32.08, a P/E/G ratio of 2.07 and a beta of 0.95.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 EPS. As a group, equities research analysts predict that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is 24.25%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Piper Sandler upped their target price on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their price target on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird upped their price objective on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Citigroup boosted their target price on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.