Visa Inc. (NYSE:V) Shares Sold by Optas LLC

Optas LLC lessened its position in Visa Inc. (NYSE:V) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,072 shares of the credit-card processor’s stock after selling 47 shares during the quarter. Optas LLC’s holdings in Visa were worth $1,331,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Livelsberger Financial Advisory purchased a new stake in shares of Visa in the fourth quarter valued at approximately $25,000. Westend Capital Management LLC acquired a new stake in shares of Visa in the 1st quarter worth $25,000. Frank Rimerman Advisors LLC purchased a new position in shares of Visa during the 4th quarter worth $33,000. TruNorth Capital Management LLC boosted its position in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Finally, Bbjs Financial Advisors LLC purchased a new stake in shares of Visa in the second quarter valued at about $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

V stock traded down $0.50 on Friday, hitting $267.44. The company’s stock had a trading volume of 3,697,448 shares, compared to its average volume of 9,242,073. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $487.36 billion, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96. The firm has a 50 day moving average of $265.93 and a two-hundred day moving average of $273.28.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the previous year, the company posted $2.16 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. Visa’s payout ratio is currently 23.24%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Citigroup decreased their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Piper Sandler lowered their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Mizuho increased their target price on shares of Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Six research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average target price of $308.50.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.