Versor Investments LP Sells 267 Shares of Visa Inc. $V

Versor Investments LP lowered its stake in shares of Visa Inc. (NYSE:V) by 23.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 891 shares of the credit-card processor’s stock after selling 267 shares during the quarter. Versor Investments LP’s holdings in Visa were worth $316,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Keystone Global Partners LLC bought a new stake in Visa during the 1st quarter worth about $26,000. Family Legacy Financial Solutions LLC bought a new stake in Visa during the 2nd quarter worth about $28,000. Harbor Asset Planning Inc. bought a new stake in Visa during the 2nd quarter worth about $29,000. Cranbrook Wealth Management LLC grew its holdings in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares during the last quarter. Finally, Hoese & Co LLP bought a new stake in Visa during the 2nd quarter worth about $36,000. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V opened at $340.31 on Thursday. The company has a market capitalization of $623.72 billion, a price-to-earnings ratio of 33.33, a P/E/G ratio of 2.06 and a beta of 0.87. The firm’s 50 day simple moving average is $344.10 and its 200 day simple moving average is $348.59. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.12. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The business had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. Visa’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the company posted $2.71 EPS. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

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

Analyst Ratings Changes

V has been the topic of a number of research reports. Truist Financial cut their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Macquarie cut their target price on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. UBS Group set a $425.00 target price on shares of Visa and gave the company a “buy” rating in a research report on Wednesday, October 29th. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Barclays restated an “overweight” rating and set a $408.00 target price (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $400.00.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer owned 537 shares in the company, valued at $183,117. This trade represents a 95.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 23,897 shares of company stock worth $8,164,561. Company insiders own 0.13% of the company’s stock.

Visa 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.