London Co. of Virginia Sells 8,302 Shares of Visa Inc. $V

London Co. of Virginia trimmed its position in Visa Inc. (NYSE:V) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 296,812 shares of the credit-card processor’s stock after selling 8,302 shares during the quarter. London Co. of Virginia’s holdings in Visa were worth $101,326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Sonoma Allocations LLC acquired a new position in shares of Visa during the 3rd quarter worth about $710,000. AQR Capital Management LLC grew its holdings in Visa by 1.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock valued at $438,196,000 after buying an additional 21,401 shares during the last quarter. Baltimore Washington Financial Advisors Inc. grew its holdings in Visa by 5.9% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock valued at $33,783,000 after buying an additional 5,295 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in Visa by 2.6% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 574,043 shares of the credit-card processor’s stock worth $198,596,000 after buying an additional 14,581 shares during the period. Finally, Federated Hermes Inc. increased its position in Visa by 24.1% in the 3rd quarter. Federated Hermes Inc. now owns 823,262 shares of the credit-card processor’s stock worth $281,045,000 after buying an additional 159,906 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

NYSE V opened at $310.10 on Tuesday. The firm has a market cap of $562.88 billion, a price-to-earnings ratio of 29.09, a PEG ratio of 1.76 and a beta of 0.78. The company has a 50 day moving average of $324.62 and a 200-day moving average of $335.62. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51.

Visa (NYSE:V) last announced its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, topping the consensus estimate of $3.14 by $0.03. The business had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.Visa’s revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.75 EPS. On average, equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th were given a $0.67 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $2.68 annualized dividend and a yield of 0.9%. Visa’s payout ratio is presently 25.14%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on V shares. UBS Group reissued a “buy” rating on shares of Visa in a research report on Tuesday, January 13th. HSBC raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Rothschild & Co Redburn set a $385.00 price target on shares of Visa in a report on Wednesday, January 28th. Morgan Stanley restated an “overweight” rating and issued a $411.00 price target (up from $398.00) on shares of Visa in a research report on Friday, January 30th. Finally, Cantor Fitzgerald upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, January 27th. Seven research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $392.65.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total value of $3,661,152.30. Following the completion of the sale, the chief executive officer directly owned 9,401 shares in the company, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Lloyd Carney sold 650 shares of Visa stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total value of $201,253.00. Following the completion of the transaction, the director directly owned 2,679 shares of the company’s stock, valued at $829,471.98. This represents a 19.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.12% of the stock is currently owned by insiders.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.