Gradient Investments LLC lessened its holdings in shares of Visa Inc. (NYSE:V – Get Rating) by 17.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,610 shares of the credit-card processor’s stock after selling 14,186 shares during the quarter. Gradient Investments LLC’s holdings in Visa were worth $13,312,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of V. Landmark Wealth Management LLC bought a new stake in shares of Visa in the 1st quarter valued at approximately $32,000. Rise Advisors LLC bought a new stake in shares of Visa in the 4th quarter valued at approximately $35,000. Monumental Financial Group Inc. bought a new stake in shares of Visa in the 1st quarter valued at approximately $35,000. James Investment Research Inc. grew its stake in shares of Visa by 1,400.0% in the 1st quarter. James Investment Research Inc. now owns 180 shares of the credit-card processor’s stock valued at $40,000 after buying an additional 168 shares in the last quarter. Finally, Rather & Kittrell Inc. bought a new stake in shares of Visa in the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.
Insider Activity at Visa
In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $195.37, for a total value of $1,758,330.00. Following the sale, the chief executive officer now directly owns 159,887 shares in the company, valued at $31,237,123.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several equities research analysts recently weighed in on V shares. Barclays boosted their target price on Visa from $263.00 to $271.00 and gave the stock an “overweight” rating in a report on Thursday, July 28th. Mizuho reduced their target price on Visa from $235.00 to $215.00 and set a “neutral” rating for the company in a report on Friday, July 1st. Susquehanna Bancshares reduced their target price on Visa from $290.00 to $260.00 in a report on Thursday, July 28th. Susquehanna reduced their target price on Visa from $290.00 to $260.00 in a report on Thursday, July 28th. Finally, Piper Sandler reduced their target price on Visa from $239.00 to $204.00 and set an “overweight” rating for the company in a report on Wednesday, July 6th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $257.64.
Visa Stock Performance
Shares of NYSE V opened at $193.30 on Monday. The business has a fifty day simple moving average of $207.53 and a 200 day simple moving average of $207.32. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $365.42 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 1.56 and a beta of 0.90. Visa Inc. has a one year low of $185.91 and a one year high of $236.96.
Visa Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were paid a $0.375 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.78%. Visa’s payout ratio is 22.12%.
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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