Blume Capital Management Inc. Has $549,000 Holdings in Visa Inc. $V

Key Points

• Blume Capital Management Inc. significantly reduced its holdings in Visa Inc. by 44.1%, owning 1,548 shares valued at $549,000 as per the latest SEC filing.
• Institutional investors and hedge funds own approximately 82.15% of Visa's stock, indicating strong institutional interest.
• Visa reported earnings of $2.98 per share for the last quarter, exceeding analysts' expectations and showing a 14.3% revenue increase from the previous year.

Blume Capital Management Inc. cut its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 44.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,548 shares of the credit-card processor's stock after selling 1,221 shares during the period. Blume Capital Management Inc.'s holdings in Visa were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Visa by 14.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock valued at $159,523,000 after purchasing an additional 57,800 shares during the period. Precedent Wealth Partners LLC increased its stake in shares of Visa by 7.5% in the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor's stock valued at $564,000 after acquiring an additional 111 shares during the last quarter. Consilium Wealth Advisory LLC bought a new stake in shares of Visa in the 2nd quarter valued at about $862,000. Iron Gate Global Advisors LLC increased its stake in shares of Visa by 5.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock valued at $22,040,000 after acquiring an additional 3,484 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after acquiring an additional 955,392 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Visa in a research note on Wednesday, October 8th. KeyCorp reaffirmed an "overweight" rating and issued a $405.00 price target on shares of Visa in a research note on Wednesday. Truist Financial lowered their price target on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 price target for the company. Finally, Citigroup began coverage on Visa in a research note on Wednesday. They issued a "buy" rating and a $450.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $392.75.

Visa Price Performance

NYSE V opened at $345.82 on Friday. The business has a 50 day simple moving average of $344.73 and a 200 day simple moving average of $347.33. Visa Inc. has a 52-week low of $280.78 and a 52-week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $633.81 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 2.04 and a beta of 0.90.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same period in the prior year, the business earned $2.42 EPS. Visa's revenue for the quarter was up 14.3% compared to the same quarter last year. Analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa's dividend payout ratio (DPR) is 23.05%.

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.

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