Spectrum Asset Management Inc. NB CA Has $541,000 Stake in Visa Inc. (NYSE:V)

Spectrum Asset Management Inc. NB CA reduced its holdings in Visa Inc. (NYSE:V) by 60.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,968 shares of the credit-card processor’s stock after selling 2,949 shares during the period. Spectrum Asset Management Inc. NB CA’s holdings in Visa were worth $541,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. International Assets Investment Management LLC increased its position in shares of Visa by 45,189.4% during the 3rd 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 purchasing an additional 9,736,958 shares during the last quarter. McAdam LLC grew its stake in shares of Visa by 2.9% in the third quarter. McAdam LLC now owns 3,345 shares of the credit-card processor’s stock valued at $920,000 after buying an additional 95 shares in the last quarter. RAM Investment Partners LLC grew its stake in shares of Visa by 3.5% in the third quarter. RAM Investment Partners LLC now owns 1,904 shares of the credit-card processor’s stock valued at $524,000 after buying an additional 64 shares in the last quarter. Monte Financial Group LLC raised its position in Visa by 2.9% during the third quarter. Monte Financial Group LLC now owns 5,567 shares of the credit-card processor’s stock worth $1,531,000 after acquiring an additional 155 shares in the last quarter. Finally, Wallington Asset Management LLC raised its position in Visa by 3.8% during the third quarter. Wallington Asset Management LLC now owns 81,257 shares of the credit-card processor’s stock worth $22,342,000 after acquiring an additional 2,945 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

V stock opened at $283.22 on Friday. The company’s 50-day moving average price is $278.40 and its two-hundred day moving average price is $273.10. The firm has a market cap of $517.99 billion, a P/E ratio of 31.64, a P/E/G ratio of 1.96 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the firm posted $2.16 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the topic of several recent analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Citigroup lowered their price target on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Compass Point started coverage on Visa in a research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective for the company. Macquarie reissued an “outperform” rating and set a $300.00 target price on shares of Visa in a report on Friday, September 27th. Finally, Piper Sandler cut their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $314.19.

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.