Moors & Cabot Inc. Lowers Stock Position in Visa Inc. $V

Moors & Cabot Inc. cut its stake in shares of Visa Inc. (NYSE:V) by 5.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,589 shares of the credit-card processor’s stock after selling 4,375 shares during the period. Visa makes up 1.1% of Moors & Cabot Inc.’s holdings, making the stock its 12th biggest holding. Moors & Cabot Inc.’s holdings in Visa were worth $24,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Sonoma Allocations LLC purchased a new stake in Visa during the 3rd quarter worth approximately $710,000. AQR Capital Management LLC boosted its position 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 period. Baltimore Washington Financial Advisors Inc. boosted its position 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 period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of Visa by 2.6% in the third 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 acquiring an additional 14,581 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Visa by 24.1% during the third quarter. Federated Hermes Inc. now owns 823,262 shares of the credit-card processor’s stock worth $281,045,000 after acquiring an additional 159,906 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Up 1.0%

Visa stock opened at $310.10 on Tuesday. The stock has a market cap of $562.88 billion, a PE ratio of 29.09, a P/E/G ratio of 1.76 and a beta of 0.78. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s fifty day moving average is $324.62 and its two-hundred day moving average is $335.62. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating analysts’ consensus estimates 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%.The business’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.75 EPS. On average, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a yield of 0.9%. Visa’s dividend payout ratio (DPR) is presently 25.14%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the sale, the chief executive officer owned 9,401 shares in the company, valued at approximately $3,282,641.18. The trade was a 52.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lloyd Carney sold 650 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total transaction of $201,253.00. Following the completion of the transaction, the director owned 2,679 shares of the company’s stock, valued at approximately $829,471.98. The trade was a 19.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Freedom Capital upgraded Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $395.00 price target on shares of Visa in a research report on Friday, January 30th. TD Cowen reiterated a “buy” rating on shares of Visa in a research note on Friday, January 30th. Macquarie Infrastructure reissued an “outperform” rating and set a $410.00 price objective 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 research note on Tuesday, January 27th. Seven research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $392.65.

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.