Visa Inc. $V Shares Sold by Richard Bernstein Advisors LLC

Richard Bernstein Advisors LLC decreased its holdings in Visa Inc. (NYSE:V) by 34.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,777 shares of the credit-card processor’s stock after selling 3,090 shares during the quarter. Richard Bernstein Advisors LLC’s holdings in Visa were worth $1,972,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Sagard Holdings Management Inc. purchased a new stake in Visa in the 2nd quarter valued at $31,000. Bare Financial Services Inc raised its position in shares of Visa by 287.0% in the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 66 shares during the last quarter. Winnow Wealth LLC purchased a new stake in Visa in the 2nd quarter valued at about $40,000. Moisand Fitzgerald Tamayo LLC increased its holdings in shares of Visa by 344.8% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 129 shares of the credit-card processor’s stock worth $44,000 after buying an additional 100 shares during the last quarter. Finally, Sellwood Investment Partners LLC purchased a new position in Visa in the third quarter valued at approximately $52,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on V. Bank of America initiated coverage on shares of Visa in a report on Thursday, March 5th. They set a “buy” rating and a $410.00 price objective for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research note on Wednesday, January 21st. Piper Sandler set a $160.00 price target on shares of Visa in a report on Wednesday, January 28th. 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. Finally, Freedom Capital upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. 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, the stock currently has an average rating of “Buy” and an average price target of $392.65.

Visa Stock Performance

V opened at $316.03 on Tuesday. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The business’s 50-day moving average price is $328.80 and its two-hundred day moving average price is $337.05. The company has a market capitalization of $573.65 billion, a price-to-earnings ratio of 29.65, a P/E/G ratio of 1.82 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.

Visa (NYSE:V) last announced its quarterly earnings results 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 firm had revenue of $10.90 billion during the quarter, compared to analysts’ expectations of $10.69 billion. Visa had a net margin of 50.23% and a return on equity of 61.74%. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.75 earnings per share. Equities analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, February 10th. Visa’s dividend payout ratio is currently 25.14%.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’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 value of $3,661,152.30. Following the completion of the transaction, the chief executive officer owned 9,401 shares in the company, valued at $3,282,641.18. This trade represents a 52.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.12% of the stock is currently owned by insiders.

About Visa

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.