Highland Capital Management LLC Sells 7,475 Shares of Visa Inc. (NYSE:V)

Highland Capital Management LLC reduced its holdings in shares of Visa Inc. (NYSE:V) by 12.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 54,941 shares of the credit-card processor’s stock after selling 7,475 shares during the quarter. Visa makes up about 0.9% of Highland Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Highland Capital Management LLC’s holdings in Visa were worth $15,106,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC lifted its position in Visa by 45,189.4% during the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after acquiring an additional 9,736,958 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Visa by 4,412.3% during the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after purchasing an additional 4,166,905 shares during the period. National Bank of Canada FI lifted its holdings in Visa by 787.1% during the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after purchasing an additional 4,099,122 shares during the last quarter. Swedbank AB bought a new stake in Visa in the 1st quarter valued at $511,321,000. Finally, GQG Partners LLC grew its holdings in Visa by 40.1% in the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after buying an additional 1,715,686 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on V. Piper Sandler reduced their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Jefferies Financial Group cut their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Macquarie reaffirmed an “outperform” rating and set a $300.00 target price on shares of Visa in a report on Friday, September 27th. Citigroup cut their price target on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Compass Point assumed coverage on Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $314.19.

Insiders Place Their Bets

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

Visa Stock Performance

V stock opened at $281.73 on Friday. The firm has a market cap of $515.27 billion, a PE ratio of 31.48, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average price of $279.02 and a 200-day moving average price of $273.17. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07.

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.