Warm Springs Advisors Inc. Sells 227 Shares of Visa Inc. $V

Warm Springs Advisors Inc. reduced its position in Visa Inc. (NYSE:V) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,545 shares of the credit-card processor’s stock after selling 227 shares during the period. Visa accounts for about 2.9% of Warm Springs Advisors Inc.’s investment portfolio, making the stock its 13th biggest position. Warm Springs Advisors Inc.’s holdings in Visa were worth $3,389,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Visa by 14.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock valued at $159,523,000 after acquiring an additional 57,800 shares during the period. Precedent Wealth Partners LLC boosted its stake in shares of Visa by 7.5% during the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock worth $564,000 after purchasing an additional 111 shares during the period. Consilium Wealth Advisory LLC bought a new position in Visa during the 2nd quarter valued at about $862,000. Iron Gate Global Advisors LLC raised its position in Visa by 5.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock worth $22,040,000 after purchasing an additional 3,484 shares during the period. Finally, NatWest Group plc lifted its stake in Visa by 43.8% in the second quarter. NatWest Group plc now owns 45,660 shares of the credit-card processor’s stock worth $16,212,000 after purchasing an additional 13,912 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Down 0.3%

NYSE:V opened at $335.91 on Friday. 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 1-year low of $299.00 and a 1-year high of $375.51. The company has a 50-day moving average of $343.52 and a 200 day moving average of $348.62. The firm has a market cap of $615.66 billion, a PE ratio of 32.90, a price-to-earnings-growth ratio of 2.04 and a beta of 0.87.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the previous year, the business posted $2.71 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal 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. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 23.11%.

Analysts Set New Price Targets

A number of research analysts have recently commented on V shares. Citigroup raised Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Truist Financial dropped their price objective on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Wells Fargo & Company raised Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Robert W. Baird set a $425.00 target price on shares of Visa in a research note on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,117. The trade was a 95.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 23,897 shares of company stock valued at $8,164,561. 0.13% of the stock is currently owned by corporate insiders.

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.