Dakota Wealth Management Sells 33,657 Shares of Visa Inc. (NYSE:V)

Dakota Wealth Management cut its holdings in shares of Visa Inc. (NYSE:V) by 22.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,594 shares of the credit-card processor’s stock after selling 33,657 shares during the quarter. Visa makes up 0.7% of Dakota Wealth Management’s investment portfolio, making the stock its 24th largest holding. Dakota Wealth Management’s holdings in Visa were worth $31,508,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in V. POM Investment Strategies LLC boosted its stake in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. TruNorth Capital Management LLC increased its holdings in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the period. Abich Financial Wealth Management LLC boosted its stake in Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after buying an additional 46 shares during the period. CarsonAllaria Wealth Management Ltd. purchased a new position in Visa during the second quarter worth about $35,000. Finally, Bbjs Financial Advisors LLC purchased a new position in Visa during the second quarter worth about $35,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on V. Bank of America lifted their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. lifted their target price on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. William Blair raised shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Oppenheimer assumed coverage on shares of Visa in a research report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price objective on the stock. Finally, BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research report on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.19.

Visa Trading Down 0.5 %

NYSE V opened at $281.73 on Friday. The stock has a market cap of $515.27 billion, a P/E ratio of 31.48, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07. The stock has a 50 day simple moving average of $278.73 and a two-hundred day simple moving average of $273.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the previous year, the firm earned $2.16 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Company 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.