Visa Inc. $V Shares Sold by Ibex Wealth Advisors

Ibex Wealth Advisors trimmed its holdings in Visa Inc. (NYSE:V) by 26.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 33,545 shares of the credit-card processor’s stock after selling 12,135 shares during the period. Visa makes up about 1.3% of Ibex Wealth Advisors’ holdings, making the stock its 19th largest holding. Ibex Wealth Advisors’ holdings in Visa were worth $11,910,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in V. Vanguard Group Inc. increased its position in shares of Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after purchasing an additional 1,677,088 shares during the last quarter. Northern Trust Corp boosted its stake in Visa by 4.0% during the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock worth $6,654,189,000 after buying an additional 726,299 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Visa by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after buying an additional 955,392 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Visa by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock valued at $4,442,157,000 after acquiring an additional 434,217 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Visa by 17.7% in the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after acquiring an additional 1,651,954 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 0.5%

Visa stock opened at $334.49 on Tuesday. The firm has a market capitalization of $613.05 billion, a P/E ratio of 32.76, a P/E/G ratio of 2.03 and a beta of 0.87. The stock’s fifty day simple moving average is $343.17 and its 200-day simple moving average is $348.83. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.97 by $0.01. The firm had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.Visa’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.71 EPS. As a group, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently declared 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 a boost 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 (DPR) is presently 23.11%.

Insider Buying and Selling

In other news, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the sale, the director owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred 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 approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 23,897 shares of company stock worth $8,164,561. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on V. Truist Financial lowered their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. UBS Group set a $425.00 price target on Visa and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Citigroup upgraded Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Barclays reaffirmed an “overweight” rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, Raymond James Financial reissued an “outperform” rating and set a $408.00 target price (up previously from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $400.00.

About Visa

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.