Visa Inc. $V Shares Sold by Saybrook Capital NC

Saybrook Capital NC cut its position in shares of Visa Inc. (NYSE:V) by 4.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,821 shares of the credit-card processor’s stock after selling 2,653 shares during the period. Visa comprises about 6.3% of Saybrook Capital NC’s investment portfolio, making the stock its 5th largest position. Saybrook Capital NC’s holdings in Visa were worth $22,305,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after acquiring an additional 1,677,088 shares during the period. Northern Trust Corp grew its position in Visa by 4.0% in the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock valued at $6,654,189,000 after acquiring an additional 726,299 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Visa by 7.2% in 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 valued at $5,003,569,000 after acquiring an additional 955,392 shares during the period. Charles Schwab Investment Management Inc. grew its position in Visa by 3.5% in 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 period. Finally, Wellington Management Group LLP grew its position in Visa by 17.7% in the first 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. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’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 completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price on the stock. Barclays restated an “overweight” rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Citigroup upgraded Visa to a “strong-buy” rating in a report on Thursday, October 23rd. UBS Group restated a “buy” rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Finally, Truist Financial decreased their target price on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $392.75.

Visa Stock Down 0.1%

NYSE:V opened at $347.51 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $636.92 billion, a PE ratio of 33.94, a PEG ratio of 2.06 and a beta of 0.90. Visa Inc. has a 52-week low of $281.35 and a 52-week high of $375.51. The stock has a 50-day simple moving average of $344.99 and a 200 day simple moving average of $348.25.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The firm had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company earned $2.71 earnings per share. On average, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

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.