Visa Inc. $V Stock Sold by Riverbridge Partners LLC

Riverbridge Partners LLC decreased its holdings in Visa Inc. (NYSE:V) by 5.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,129 shares of the credit-card processor’s stock after selling 6,745 shares during the period. Visa comprises 1.3% of Riverbridge Partners LLC’s portfolio, making the stock its 23rd largest holding. Riverbridge Partners LLC’s holdings in Visa were worth $43,166,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. John Boyer Inc. acquired a new stake in shares of Visa during the third quarter worth approximately $27,000. Philadelphia Investment Partners LLC purchased a new position in Visa during the second quarter valued at approximately $29,000. Virtus Advisers LLC purchased a new position in Visa during the second quarter valued at approximately $33,000. Robinswood Financial LLC acquired a new position in Visa in the 1st quarter valued at approximately $35,000. Finally, Portfolio Resources Advisor Group Inc. acquired a new position in Visa in the 3rd quarter valued at approximately $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,028 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $381.35, for a total transaction of $773,377.80. Following the transaction, the general counsel owned 18,404 shares in the company, valued at approximately $7,018,365.40. This trade represents a 9.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 5,875 shares of Visa stock in a transaction on Friday, August 21st. The shares were sold at an average price of $367.87, for a total transaction of $2,161,236.25. Following the completion of the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,582,059.38. The trade was a 27.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 29,262 shares of company stock worth $11,195,791. 0.12% of the stock is currently owned by company insiders.

Key Headlines Impacting Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Citigroup raised its price target to $490 from $440 and maintained a Buy rating, implying about 15.9% upside from the cited share price. Citigroup recommendations
• Positive Sentiment: Global Payments added Visa’s Intelligent Data Exchange API to its Adaptive Authentication platform. Sharing more transaction data with issuers is intended to reduce false declines and improve digital checkout, supporting the utility of Visa’s data tools. Global Payments expands authentication platform
• Neutral Sentiment: Visa General Counsel Julie Rottenberg sold 1,867 shares for about $790,000 under a pre-arranged Rule 10b5-1 plan. She retained 18,404 shares, which may temper concern about the sale as a signal of her outlook. SEC filing
• Negative Sentiment: A hotter-than-expected October CPI reading could renew inflation and interest-rate concerns, potentially pressuring richly valued growth-oriented stocks, including Visa. CPI and market drivers
• Negative Sentiment: Commentary on Visa’s long-term performance also flags fee-related lawsuits, stablecoin competition and a high valuation as risks that could challenge its record of outperforming the broader market. Visa’s IPO and long-term performance

Visa Trading Up 0.2%

Shares of NYSE V opened at $422.95 on Wednesday. The business has a 50 day simple moving average of $387.55 and a 200 day simple moving average of $345.66. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $442.23. The stock has a market cap of $754.72 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 1.80 and a beta of 0.80. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.97 and a current ratio of 0.97.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.04. The firm had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.09 billion. Visa had a net margin of 51.20% and a return on equity of 70.50%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.98 earnings per share. On average, research analysts predict that Visa Inc. will post 15.02 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be given a $0.78 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.67. This represents a $3.12 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, November 10th. Visa’s payout ratio is presently 25.30%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on V. Oppenheimer increased their target price on shares of Visa from $403.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 28th. BNP Paribas Exane boosted their price target on shares of Visa from $420.00 to $425.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Wolfe Research reaffirmed an “outperform” rating and issued a $460.00 price target (up from $435.00) on shares of Visa in a research note on Tuesday, August 25th. Wells Fargo & Company increased their price objective on Visa from $432.00 to $463.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Finally, Weiss Ratings cut Visa from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating and thirty-five have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $442.29.

Visa Profile

Visa Inc. operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online. The company’s services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.