Addenda Capital Inc. Sells 310 Shares of Visa Inc. (NYSE:V)

Addenda Capital Inc. decreased its position in Visa Inc. (NYSE:V) by 0.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 79,730 shares of the credit-card processor’s stock after selling 310 shares during the period. Visa comprises 1.1% of Addenda Capital Inc.’s portfolio, making the stock its 24th biggest position. Addenda Capital Inc.’s holdings in Visa were worth $25,198,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Decker Retirement Planning Inc. acquired a new position in Visa during the fourth quarter valued at approximately $26,000. Peterson Financial Group Inc. acquired a new stake in shares of Visa in the 3rd quarter valued at approximately $26,000. Modus Advisors LLC bought a new position in shares of Visa in the fourth quarter valued at $32,000. Reston Wealth Management LLC acquired a new position in Visa during the third quarter worth $31,000. Finally, West Financial Advisors LLC raised its position in Visa by 101.4% during the third quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock worth $40,000 after acquiring an additional 73 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on V. Piper Sandler lifted their price objective on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Bank of America boosted their price target on Visa from $314.00 to $331.00 and gave the stock a “neutral” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their target price on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Mizuho increased their price target on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company lifted their price objective on shares of Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $332.81.

Visa Stock Down 0.0 %

Shares of V opened at $323.55 on Thursday. The firm has a 50 day simple moving average of $313.86 and a two-hundred day simple moving average of $289.47. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa Inc. has a one year low of $252.70 and a one year high of $325.74. The company has a market cap of $602.73 billion, a P/E ratio of 33.25, a P/E/G ratio of 2.15 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.33 EPS. Research analysts forecast that Visa Inc. will post 11.2 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.73%. Visa’s payout ratio is 24.25%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

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.