Visa Inc. (NYSE:V) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC trimmed its holdings in Visa Inc. (NYSE:V) by 20.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,514 shares of the credit-card processor’s stock after selling 5,669 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Visa were worth $6,190,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in Visa by 45,189.4% during the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after acquiring an additional 9,736,958 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Visa by 4,412.3% during the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after purchasing an additional 4,166,905 shares during the period. National Bank of Canada FI lifted its holdings in shares of Visa by 787.1% during the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after purchasing an additional 4,099,122 shares during the period. Swedbank AB acquired a new position in Visa in the 1st quarter valued at $511,321,000. Finally, GQG Partners LLC raised its position in Visa by 40.1% during the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after buying an additional 1,715,686 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Price Performance

V opened at $281.73 on Monday. The stock has a fifty day moving average price of $279.02 and a 200 day moving average price of $273.16. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07. The stock has a market cap of $513.40 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 1.95 and a beta of 0.96.

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent analyst reports. Bank of America raised their target price on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Morgan Stanley reiterated an “overweight” rating and set a $322.00 price objective on shares of Visa in a research report on Wednesday, September 25th. Piper Sandler reduced their price target on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Oppenheimer initiated coverage on Visa in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 target price for the company. Finally, BMO Capital Markets raised their target price on shares of Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average target price of $314.19.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction 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 approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by company insiders.

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.