Visa Inc. $V Stake Reduced by Elevated Capital Advisors LLC

Elevated Capital Advisors LLC trimmed its position in shares of Visa Inc. (NYSE:V) by 37.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,205 shares of the credit-card processor’s stock after selling 1,928 shares during the period. Elevated Capital Advisors LLC’s holdings in Visa were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. XXEC Inc. boosted its position in Visa by 153,118.8% during the second quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock worth $63,904,097,000 after purchasing an additional 186,138,883 shares during the period. State Street Corp raised its position in shares of Visa by 0.7% in the second quarter. State Street Corp now owns 82,872,209 shares of the credit-card processor’s stock valued at $28,432,626,000 after purchasing an additional 566,194 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Visa by 13.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,720,068 shares of the credit-card processor’s stock worth $5,393,398,000 after buying an additional 1,808,496 shares during the period. Dimensional Fund Advisors LP lifted its position in Visa by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 8,842,842 shares of the credit-card processor’s stock worth $2,672,655,000 after acquiring an additional 316,559 shares during the last quarter. Finally, Amundi lifted its position in Visa by 16.5% during the second quarter. Amundi now owns 7,714,919 shares of the credit-card processor’s stock worth $2,646,911,000 after acquiring an additional 1,092,315 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie Rottenberg sold 2,028 shares of Visa stock in a transaction on Monday, August 31st. The stock was sold at an average price of $381.35, for a total value of $773,377.80. Following the completion of the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at $7,018,365.40. The trade was a 9.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 5,875 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $367.87, for a total value of $2,161,236.25. Following the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $5,582,059.38. The trade was a 27.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 29,262 shares of company stock valued at $11,195,791 over the last ninety days. Insiders own 0.12% of the company’s stock.

Visa News Roundup

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Citigroup raised its price target to $490 from $440 and maintained a Buy rating, implying about 15.9% upside from the cited share price. Citigroup recommendations
• Positive Sentiment: Global Payments added Visa’s Intelligent Data Exchange API to its Adaptive Authentication platform. Sharing more transaction data with issuers is intended to reduce false declines and improve digital checkout, supporting the utility of Visa’s data tools. Global Payments expands authentication platform
• Neutral Sentiment: Visa General Counsel Julie Rottenberg sold 1,867 shares for about $790,000 under a pre-arranged Rule 10b5-1 plan. She retained 18,404 shares, which may temper concern about the sale as a signal of her outlook. SEC filing
• Negative Sentiment: A hotter-than-expected October CPI reading could renew inflation and interest-rate concerns, potentially pressuring richly valued growth-oriented stocks, including Visa. CPI and market drivers
• Negative Sentiment: Commentary on Visa’s long-term performance also flags fee-related lawsuits, stablecoin competition and a high valuation as risks that could challenge its record of outperforming the broader market. Visa’s IPO and long-term performance

Visa Stock Up 0.2%

NYSE V opened at $422.95 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.54. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $442.23. The company has a 50 day moving average of $387.55 and a 200-day moving average of $345.66. The company has a market cap of $754.72 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 1.80 and a beta of 0.80.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.04. The business had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Visa had a return on equity of 70.50% and a net margin of 51.20%. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.98 earnings per share. On average, equities research analysts expect that Visa Inc. will post 15.02 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be paid a dividend of $0.78 per share. This is a boost from Visa’s previous quarterly dividend of $0.67. The ex-dividend date is Tuesday, November 10th. This represents a $3.12 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is 25.30%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on V shares. DZ Bank reissued a “buy” rating on shares of Visa in a report on Monday, August 3rd. Bank of America increased their price objective on Visa from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Loop Capital lifted their target price on Visa from $387.00 to $404.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Barclays boosted their target price on shares of Visa from $420.00 to $440.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. Finally, UBS Group restated a “buy” rating and issued a $420.00 price target (up from $410.00) on shares of Visa in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating and thirty-five have assigned a Buy rating to the company’s stock. According to data from MarketBeat, Visa presently has an average rating of “Buy” and an average price target of $442.29.

Visa Profile

Visa Inc. operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online. The company’s services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.