HFR Wealth Management LLC Sells 1,762 Shares of Visa Inc. $V

HFR Wealth Management LLC decreased its position in Visa Inc. (NYSE:V) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,904 shares of the credit-card processor’s stock after selling 1,762 shares during the period. Visa accounts for approximately 4.0% of HFR Wealth Management LLC’s investment portfolio, making the stock its 9th largest position. HFR Wealth Management LLC’s holdings in Visa were worth $15,417,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in V. Bank Pictet & Cie Europe AG increased its position in shares of Visa by 0.9% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 606,500 shares of the credit-card processor’s stock worth $217,934,000 after purchasing an additional 5,568 shares during the last quarter. CFC Planning Co LLC raised its holdings in Visa by 13.7% in the 3rd quarter. CFC Planning Co LLC now owns 13,305 shares of the credit-card processor’s stock valued at $4,781,000 after buying an additional 1,607 shares during the period. Vega Investment Solutions purchased a new stake in Visa in the 2nd quarter valued at about $829,000. Brooklands Fund Management Ltd purchased a new stake in Visa in the 3rd quarter valued at about $5,291,000. Finally, XXEC Inc. lifted its position in Visa by 153,118.8% in the second quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock valued at $63,904,097,000 after buying an additional 186,138,883 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, insider Paul Fabara sold 3,401 shares of Visa stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $423.09, for a total value of $1,438,929.09. Following the completion of the transaction, the insider directly owned 33,913 shares of the company’s stock, valued at $14,348,251.17. The trade was a 9.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie Rottenberg sold 2,028 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $381.35, for a total transaction of $773,377.80. Following the sale, the general counsel owned 18,404 shares in the company, valued at $7,018,365.40. This trade represents a 9.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 32,663 shares of company stock valued at $12,634,720 in the last three months. 0.12% of the stock is owned by corporate insiders.

Key Headlines Impacting Visa

Investors following V have been watching these headlines:

• Positive Sentiment: OpenAI is rolling out ChatGPT Wallet, allowing AI agents to make purchases using existing cards, including Visa, with users approving transactions. This could create a new commerce channel for card payments, but the rollout is early and its scale is uncertain. OpenAI rolls out ChatGPT Wallet
• Neutral Sentiment: UQPAY received Visa Associate Membership in Australia, enabling it to build card-issuing capabilities there. This supports Visa’s regional network, but the report gives no indication of near-term revenue impact. UQPAY secures Visa membership in Australia
• Negative Sentiment: Visa insider Paul Fabara sold 3,401 shares, reducing his direct holding by 9.11%. The sale was made under a pre-arranged Rule 10b5-1 plan, which may make it a less meaningful signal about the company’s outlook. Visa insider trading information

Analysts Set New Price Targets

V has been the subject of several research analyst reports. TD Cowen reaffirmed a “buy” rating and set a $450.00 target price (up from $420.00) on shares of Visa in a research note on Wednesday, October 28th. Truist Financial lifted their price target on shares of Visa from $443.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Weiss Ratings raised shares of Visa from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday. UBS Group reissued 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. Finally, The Goldman Sachs Group upped their price objective on shares of Visa from $420.00 to $438.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating and thirty-five have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $443.35.

Visa Trading Up 1.2%

Shares of NYSE V traded up $5.24 during trading on Friday, reaching $425.55. The stock had a trading volume of 4,640,217 shares, compared to its average volume of 7,084,294. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $442.23. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.97 and a current ratio of 0.97. The business’s 50-day moving average price is $390.37 and its 200-day moving average price is $347.12. The company has a market cap of $759.36 billion, a P/E ratio of 34.51, a PEG ratio of 1.79 and a beta of 0.80.

Visa (NYSE:V) last posted its quarterly earnings data 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. Visa had a return on equity of 70.50% and a net margin of 51.20%. The firm had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the previous year, the business earned $2.98 EPS. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. On average, equities research analysts predict that Visa Inc. will post 15.02 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be given a $0.78 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $3.12 annualized dividend and a yield of 0.7%. This is an increase from Visa’s previous quarterly dividend of $0.67. Visa’s dividend payout ratio is presently 25.30%.

Visa Company 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.