Visa Inc. $V Shares Sold by Turn8 Private Wealth Inc.

Turn8 Private Wealth Inc. lowered its position in shares of Visa Inc. (NYSE:V) by 80.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,250 shares of the credit-card processor’s stock after selling 5,101 shares during the quarter. Turn8 Private Wealth Inc.’s holdings in Visa were worth $449,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Oak Barrel Wealth Advisory LLC boosted its holdings in shares of Visa by 1.8% in the 3rd quarter. Oak Barrel Wealth Advisory LLC now owns 2,494 shares of the credit-card processor’s stock valued at $896,000 after buying an additional 45 shares during the period. Brooklyn FI LLC grew its position in shares of Visa by 501.5% during the 3rd quarter. Brooklyn FI LLC now owns 824 shares of the credit-card processor’s stock valued at $296,000 after buying an additional 687 shares during the last quarter. AMG National Trust Bank grew its position in shares of Visa by 4.3% during the 3rd quarter. AMG National Trust Bank now owns 15,199 shares of the credit-card processor’s stock valued at $5,461,000 after buying an additional 626 shares during the last quarter. Moneco Advisors LLC raised its stake in Visa by 7.0% during the third quarter. Moneco Advisors LLC now owns 14,003 shares of the credit-card processor’s stock worth $5,032,000 after acquiring an additional 915 shares during the period. Finally, Mesirow Financial Investment Management Inc. raised its stake in Visa by 1.0% during the third quarter. Mesirow Financial Investment Management Inc. now owns 89,966 shares of the credit-card processor’s stock worth $32,329,000 after acquiring an additional 924 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Activity

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

Visa Stock Performance

V stock opened at $422.95 on Wednesday. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $442.23. The stock has a market capitalization of $754.72 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 1.80 and a beta of 0.80. 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’s fifty day moving average is $387.55 and its two-hundred day moving average is $345.66.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 EPS for the quarter, topping the consensus estimate of $3.44 by $0.04. The business had revenue of $12.14 billion during the quarter, compared to analyst estimates of $12.09 billion. Visa had a net margin of 51.20% and a return on equity of 70.50%. The company’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.98 earnings per share. On average, research analysts predict that Visa Inc. will post 15.02 EPS for the current year.

Visa Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $500.00 target price (up from $445.00) on shares of Visa in a report on Wednesday, October 28th. BMO Capital Markets set a $438.00 target price on Visa and gave the company an “outperform” rating in a research note on Wednesday, October 28th. Susquehanna set a $480.00 target price on Visa and gave the company a “positive” rating in a report on Monday, October 26th. Raymond James Financial reiterated an “outperform” rating and set a $445.00 price target on shares of Visa in a research report on Wednesday, October 28th. Finally, Erste Group Bank upgraded Visa from a “hold” rating to a “buy” rating in a research report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating and thirty-five have issued a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $442.29.

More Visa News

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

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.