Malaga Cove Capital LLC Decreases Holdings in Visa Inc. (NYSE:V)

Malaga Cove Capital LLC reduced its stake in Visa Inc. (NYSE:V) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,884 shares of the credit-card processor’s stock after selling 63 shares during the period. Visa makes up about 1.1% of Malaga Cove Capital LLC’s investment portfolio, making the stock its 29th biggest holding. Malaga Cove Capital LLC’s holdings in Visa were worth $2,718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. POM Investment Strategies LLC boosted its holdings in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the period. Reston Wealth Management LLC purchased a new position in shares of Visa in the third quarter valued at $31,000. TruNorth Capital Management LLC grew its holdings in 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 purchasing an additional 89 shares in the last quarter. Abich Financial Wealth Management LLC increased its stake in Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after buying an additional 46 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in Visa in the 2nd quarter worth $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research report on Tuesday, September 3rd. Barclays lifted their price objective on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday. Piper Sandler increased their target price on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Susquehanna lifted their price target on shares of Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price target on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Trading Up 4.8 %

Visa stock opened at $307.36 on Thursday. Visa Inc. has a 52-week low of $240.97 and a 52-week high of $309.00. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $560.11 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.96 and a beta of 0.95. The firm has a 50-day moving average price of $282.69 and a two-hundred day moving average price of $274.20.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.33 earnings per share. Sell-side analysts expect that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. Visa’s dividend payout ratio (DPR) is 21.38%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’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 in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

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.