Palogic Value Management L.P. Sells 200 Shares of Visa Inc. $V

Palogic Value Management L.P. lowered its stake in Visa Inc. (NYSE:V) by 7.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,417 shares of the credit-card processor’s stock after selling 200 shares during the period. Palogic Value Management L.P.’s holdings in Visa were worth $858,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of V. Tredje AP fonden boosted its stake in Visa by 24.9% in the second quarter. Tredje AP fonden now owns 433,247 shares of the credit-card processor’s stock valued at $153,824,000 after buying an additional 86,389 shares in the last quarter. Mission Wealth Management LP boosted its stake in Visa by 1.4% in the second quarter. Mission Wealth Management LP now owns 51,946 shares of the credit-card processor’s stock valued at $18,444,000 after buying an additional 737 shares in the last quarter. Eleva Capital SAS acquired a new stake in Visa in the second quarter valued at about $1,059,000. Integrity Financial Corp WA boosted its stake in Visa by 35.1% in the second quarter. Integrity Financial Corp WA now owns 1,693 shares of the credit-card processor’s stock valued at $601,000 after buying an additional 440 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its stake in Visa by 52.3% in the second quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,316 shares of the credit-card processor’s stock valued at $822,000 after buying an additional 795 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.13% of the stock is owned by company insiders.

Visa Price Performance

Shares of V opened at $336.74 on Tuesday. Visa Inc. has a 1 year low of $290.76 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.12. The company has a market capitalization of $617.17 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 2.03 and a beta of 0.87. The business has a 50-day moving average of $344.54 and a 200-day moving average of $348.57.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period last year, the company earned $2.71 earnings per share. The firm’s revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio is 23.11%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on V shares. UBS Group set a $425.00 price objective on Visa and gave the company a “buy” rating in a research note on Wednesday, October 29th. KeyCorp reissued an “overweight” rating and set a $405.00 price target on shares of Visa in a research note on Wednesday, October 22nd. Truist Financial cut their price target on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Barclays reissued an “overweight” rating and set a $408.00 price target (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, Morgan Stanley set a $398.00 price target on Visa and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $400.00.

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.