Financial Gravity Asset Management Inc. Has $152,000 Stake in Visa Inc. (NYSE:V)

Financial Gravity Asset Management Inc. lowered its stake in Visa Inc. (NYSE:VGet Rating) by 9.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,602 shares of the credit-card processor’s stock after selling 171 shares during the period. Financial Gravity Asset Management Inc.’s holdings in Visa were worth $152,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its stake in Visa by 0.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 51,261,821 shares of the credit-card processor’s stock valued at $10,092,940,000 after buying an additional 200,057 shares during the last quarter. Jennison Associates LLC grew its position in shares of Visa by 0.6% in the third quarter. Jennison Associates LLC now owns 13,270,127 shares of the credit-card processor’s stock valued at $2,357,438,000 after purchasing an additional 77,186 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Visa by 1.0% in the second quarter. Clearbridge Investments LLC now owns 13,200,244 shares of the credit-card processor’s stock worth $2,598,996,000 after purchasing an additional 135,832 shares during the period. Legal & General Group Plc lifted its position in shares of Visa by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 11,724,520 shares of the credit-card processor’s stock worth $2,308,444,000 after purchasing an additional 148,594 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Visa by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,004,830 shares of the credit-card processor’s stock valued at $2,218,771,000 after purchasing an additional 126,585 shares during the period. Institutional investors own 81.87% of the company’s stock.

Visa Trading Down 0.1 %

NYSE:V opened at $224.18 on Tuesday. The business’s 50-day moving average price is $212.64 and its two-hundred day moving average price is $204.50. Visa Inc. has a 1-year low of $174.60 and a 1-year high of $235.85. The firm has a market capitalization of $422.24 billion, a price-to-earnings ratio of 32.07, a PEG ratio of 1.81 and a beta of 0.95. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.61.

Visa (NYSE:VGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The credit-card processor reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.07. Visa had a return on equity of 48.56% and a net margin of 51.03%. The company had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.55 billion. On average, equities analysts expect that Visa Inc. will post 8.29 earnings per share for the current year.

Visa Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th were issued a dividend of $0.395 per share. The ex-dividend date was Thursday, December 15th. This represents a $1.58 annualized dividend and a yield of 0.70%. Visa’s dividend payout ratio (DPR) is currently 25.75%.

Visa declared that its Board of Directors has approved a stock repurchase plan on Tuesday, October 25th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the credit-card processor to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have weighed in on V. Redburn Partners assumed coverage on shares of Visa in a report on Tuesday, November 29th. They issued a “sell” rating for the company. UBS Group decreased their target price on Visa from $290.00 to $287.00 and set a “buy” rating on the stock in a research report on Thursday, December 15th. Truist Financial upped their price target on Visa from $235.00 to $260.00 in a report on Friday. Oppenheimer decreased their price objective on Visa from $216.00 to $210.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Finally, Raymond James lowered their price objective on Visa from $262.00 to $261.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $255.15.

Insider Buying and Selling at Visa

In related news, insider Rajat Taneja sold 25,627 shares of the company’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $216.67, for a total value of $5,552,602.09. Following the completion of the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $50,291,707.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Rajat Taneja sold 25,627 shares of Visa stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $216.67, for a total value of $5,552,602.09. Following the sale, the insider now owns 232,112 shares of the company’s stock, valued at approximately $50,291,707.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Ryan Mcinerney sold 58,197 shares of the firm’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $62.47, for a total transaction of $3,635,566.59. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Visa Company Profile

(Get Rating)

Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).

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Institutional Ownership by Quarter for Visa (NYSE:V)

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