Visa Inc. $V Shares Sold by Fortis Group Advisors LLC

Fortis Group Advisors LLC lowered its holdings in Visa Inc. (NYSE:V) by 29.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,480 shares of the credit-card processor’s stock after selling 3,881 shares during the period. Fortis Group Advisors LLC’s holdings in Visa were worth $3,231,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in V. Insight Wealth Strategies LLC lifted its stake in Visa by 1.6% in the third quarter. Insight Wealth Strategies LLC now owns 1,875 shares of the credit-card processor’s stock valued at $640,000 after buying an additional 29 shares during the last quarter. Old Port Advisors increased its holdings in shares of Visa by 0.9% in the 3rd quarter. Old Port Advisors now owns 3,423 shares of the credit-card processor’s stock worth $1,169,000 after acquiring an additional 29 shares during the period. Interchange Capital Partners LLC increased its holdings in shares of Visa by 0.5% in the 2nd quarter. Interchange Capital Partners LLC now owns 6,413 shares of the credit-card processor’s stock worth $2,276,000 after acquiring an additional 30 shares during the period. Carr Financial Group Corp boosted its stake in Visa by 2.4% during the 3rd quarter. Carr Financial Group Corp now owns 1,290 shares of the credit-card processor’s stock valued at $440,000 after purchasing an additional 30 shares during the period. Finally, Define Financial LLC boosted its stake in Visa by 4.0% during the 3rd quarter. Define Financial LLC now owns 779 shares of the credit-card processor’s stock valued at $266,000 after purchasing an additional 30 shares during the period. 82.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the completion of the sale, the insider directly owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the completion of the transaction, the chief executive officer owned 9,401 shares of the company’s stock, valued at $3,282,641.18. This trade represents a 52.73% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

V has been the topic of a number of recent analyst reports. UBS Group reaffirmed a “buy” rating on shares of Visa in a report on Tuesday, January 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research note on Wednesday, January 21st. Cantor Fitzgerald upgraded Visa to a “strong-buy” rating in a research report on Tuesday, January 27th. Truist Financial set a $372.00 price target on Visa in a report on Tuesday, February 10th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $395.00 price objective on shares of Visa in a research note on Friday, January 30th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $392.21.

Visa Price Performance

Shares of Visa stock opened at $319.14 on Wednesday. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The stock has a market cap of $579.29 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 1.80 and a beta of 0.79. The company’s 50-day moving average price is $337.60 and its two-hundred day moving average price is $339.37.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The company had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter in the previous year, the company posted $2.75 EPS. The business’s revenue was up 14.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio is currently 25.14%.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.