Clark Asset Management LLC Sells 162 Shares of Visa Inc. $V

Clark Asset Management LLC reduced its position in Visa Inc. (NYSE:V) by 1.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 12,285 shares of the credit-card processor’s stock after selling 162 shares during the period. Visa accounts for approximately 0.6% of Clark Asset Management LLC’s investment portfolio, making the stock its 25th largest holding. Clark Asset Management LLC’s holdings in Visa were worth $4,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC lifted its stake in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after buying an additional 4,817 shares in the last quarter. Cairn Investment Group Inc. lifted its stake in shares of Visa by 3.3% during the 1st quarter. Cairn Investment Group Inc. now owns 1,882 shares of the credit-card processor’s stock valued at $660,000 after buying an additional 60 shares in the last quarter. Northwest Wealth Management LLC boosted its holdings in Visa by 23.2% in the 1st quarter. Northwest Wealth Management LLC now owns 950 shares of the credit-card processor’s stock worth $333,000 after buying an additional 179 shares during the period. Finally, Jacobsen Capital Management boosted its holdings in Visa by 3.1% in the 1st quarter. Jacobsen Capital Management now owns 4,982 shares of the credit-card processor’s stock worth $1,746,000 after buying an additional 148 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on V shares. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Truist Financial cut their target price on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Oppenheimer lifted their target price on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Citigroup raised shares of Visa to a “strong-buy” rating in a report on Thursday, October 23rd. 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $400.00.

Insiders Place Their Bets

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

Visa Price Performance

NYSE:V opened at $340.93 on Thursday. The business’s 50-day moving average is $344.93 and its 200 day moving average is $348.30. Visa Inc. has a 12 month low of $287.19 and a 12 month high of $375.51. The company has a market capitalization of $624.86 billion, a P/E ratio of 33.39, a P/E/G ratio of 2.05 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. The business had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.20% and a net margin of 50.15%.The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.71 EPS. On average, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a $0.67 dividend. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 23.05%.

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.