RPG Investment Advisory LLC Trims Stake in Visa Inc. (NYSE:V)

RPG Investment Advisory LLC lessened its position in Visa Inc. (NYSE:V) by 9.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 777 shares of the credit-card processor’s stock after selling 78 shares during the quarter. RPG Investment Advisory LLC’s holdings in Visa were worth $204,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Alaethes Wealth LLC increased its position in Visa by 0.4% in the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after buying an additional 37 shares in the last quarter. Jessup Wealth Management Inc lifted its stake in Visa by 0.7% in the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after purchasing an additional 37 shares in the last quarter. Long Run Wealth Advisors LLC boosted its position in shares of Visa by 2.5% during the 1st quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock valued at $424,000 after acquiring an additional 37 shares during the last quarter. Cordatus Wealth Management LLC grew its position in Visa by 0.3% in the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after acquiring an additional 37 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC boosted its stake in Visa by 1.8% during the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after buying an additional 38 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Piper Sandler decreased their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Royal Bank of Canada dropped their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. William Blair upgraded Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Citigroup cut their price target 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. Finally, Jefferies Financial Group decreased their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $309.54.

Visa Stock Performance

Shares of V opened at $285.61 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a 50-day moving average of $266.97 and a two-hundred day moving average of $273.12. The stock has a market cap of $520.47 billion, a P/E ratio of 31.91, a P/E/G ratio of 1.97 and a beta of 0.96. Visa Inc. has a one year low of $227.78 and a one year high of $290.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $2.16 EPS. As a group, research analysts predict that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.73%. Visa’s dividend payout ratio is presently 23.24%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Visa Profile

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.