Visa Inc. $V Stock Holdings Cut by Philadelphia Trust Co.

Philadelphia Trust Co. reduced its stake in shares of Visa Inc. (NYSE:V) by 33.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,258 shares of the credit-card processor’s stock after selling 5,236 shares during the quarter. Philadelphia Trust Co.’s holdings in Visa were worth $3,686,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. XXEC Inc. raised its position in shares of Visa by 153,118.8% in the 2nd quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock valued at $63,904,097,000 after acquiring an additional 186,138,883 shares during the period. Jupiter Topco LLC bought a new position in Visa during the 2nd quarter worth approximately $1,435,262,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Visa by 13.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,720,068 shares of the credit-card processor’s stock worth $5,393,398,000 after acquiring an additional 1,808,496 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Visa by 33.1% during the first quarter. Janus Henderson Group PLC now owns 4,486,927 shares of the credit-card processor’s stock valued at $1,356,090,000 after purchasing an additional 1,116,498 shares during the period. Finally, Amundi grew its holdings in Visa by 16.5% during the second quarter. Amundi now owns 7,714,919 shares of the credit-card processor’s stock valued at $2,646,911,000 after purchasing an additional 1,092,315 shares during the period. 82.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on V shares. Piper Sandler reaffirmed an “overweight” rating and issued a $479.00 target price (up from $430.00) on shares of Visa in a research note on Wednesday, October 28th. Evercore set a $405.00 target price on shares of Visa in a report on Wednesday, October 28th. Oppenheimer lifted their price target on shares of Visa from $403.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 28th. Bank of America boosted their price target on shares of Visa from $410.00 to $430.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $500.00 price target (up from $445.00) on shares of Visa in a report on Wednesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating and thirty-five have given a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $442.29.

Key Stories Impacting Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Citigroup raised its price target to $490 from $440 and maintained a Buy rating, implying about 15.9% upside from the cited share price. Citigroup recommendations
• Positive Sentiment: Global Payments added Visa’s Intelligent Data Exchange API to its Adaptive Authentication platform. Sharing more transaction data with issuers is intended to reduce false declines and improve digital checkout, supporting the utility of Visa’s data tools. Global Payments expands authentication platform
• Neutral Sentiment: Visa General Counsel Julie Rottenberg sold 1,867 shares for about $790,000 under a pre-arranged Rule 10b5-1 plan. She retained 18,404 shares, which may temper concern about the sale as a signal of her outlook. SEC filing
• Negative Sentiment: A hotter-than-expected October CPI reading could renew inflation and interest-rate concerns, potentially pressuring richly valued growth-oriented stocks, including Visa. CPI and market drivers
• Negative Sentiment: Commentary on Visa’s long-term performance also flags fee-related lawsuits, stablecoin competition and a high valuation as risks that could challenge its record of outperforming the broader market. Visa’s IPO and long-term performance

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 5,875 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $416.22, for a total transaction of $2,445,292.50. Following the sale, the chief executive officer directly owned 15,174 shares in the company, valued at $6,315,722.28. This trade represents a 27.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie Rottenberg sold 1,867 shares of the firm’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $423.00, for a total transaction of $789,741.00. Following the sale, the general counsel owned 18,404 shares in the company, valued at approximately $7,784,892. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 29,262 shares of company stock valued at $11,195,791 in the last three months. 0.12% of the stock is owned by insiders.

Visa Price Performance

NYSE V opened at $422.95 on Wednesday. The business has a 50 day simple moving average of $387.55 and a 200 day simple moving average of $345.66. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $442.23. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $754.72 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 1.80 and a beta of 0.80.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.04. Visa had a net margin of 51.20% and a return on equity of 70.50%. The firm had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the previous year, the firm posted $2.98 earnings per share. The business’s revenue was up 13.2% on a year-over-year basis. Analysts anticipate that Visa Inc. will post 15.02 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 10th will be given a dividend of $0.78 per share. This is a positive change from Visa’s previous quarterly dividend of $0.67. This represents a $3.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, November 10th. Visa’s payout ratio is currently 25.30%.

Visa Profile

Visa Inc. operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online. The company’s services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.