Visa Inc. $V is Forbes J M & Co. LLP’s 10th Largest Position

Forbes J M & Co. LLP trimmed its holdings in Visa Inc. (NYSE:V) by 0.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 65,739 shares of the credit-card processor’s stock after selling 96 shares during the period. Visa accounts for approximately 2.1% of Forbes J M & Co. LLP’s portfolio, making the stock its 10th largest position. Forbes J M & Co. LLP’s holdings in Visa were worth $23,341,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in V. Keystone Global Partners LLC purchased a new position in Visa during the first quarter worth about $26,000. von Borstel & Associates Inc. purchased a new position in Visa during the first quarter worth about $27,000. Family Legacy Financial Solutions LLC purchased a new position in Visa during the second quarter worth about $28,000. Cranbrook Wealth Management LLC raised its holdings in Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares in the last quarter. Finally, 1 North Wealth Services LLC purchased a new position in Visa during the first quarter worth about $38,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

V has been the subject of several analyst reports. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Barclays reaffirmed an “overweight” rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Truist Financial dropped their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a report on Saturday, September 27th. Finally, Morgan Stanley increased their target price on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $385.96.

Visa Stock Up 1.1%

V stock opened at $349.90 on Friday. The company’s 50 day simple moving average is $343.78 and its 200-day simple moving average is $346.70. The firm has a market capitalization of $641.29 billion, a PE ratio of 34.17, a P/E/G ratio of 2.05 and a beta of 0.90. Visa Inc. has a 12 month low of $273.24 and a 12 month high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period in the prior year, the business earned $2.42 earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. Equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio (DPR) is 23.05%.

About Visa

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.