Robbins Farley Cuts Stock Position in Visa Inc. $V

Key Points

• Robbins Farley has reduced its stake in Visa Inc. by 12.9%, now holding 13,535 shares valued at approximately $4.8 million, making it the company's 18th largest holding.
• Several hedge funds have recently altered their positions, with notable increases in stakes from entities like Cranbrook Wealth Management LLC, which raised its stake by 82%.
• Analysts have set new price targets for Visa, with Macquarie raising its target significantly from $380 to $425, while Mizuho also upgraded its rating and price objective to the same level.

Robbins Farley lessened its holdings in Visa Inc. (NYSE:V - Free Report) by 12.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,535 shares of the credit-card processor's stock after selling 1,999 shares during the period. Visa comprises approximately 2.2% of Robbins Farley's holdings, making the stock its 18th biggest holding. Robbins Farley's holdings in Visa were worth $4,806,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Keystone Global Partners LLC purchased a new stake in shares of Visa during the first quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa during the second quarter valued at approximately $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the first quarter valued at approximately $27,000. Cranbrook Wealth Management LLC raised its stake in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after purchasing an additional 41 shares during the period. Finally, Westend Capital Management LLC raised its stake in shares of Visa by 83.1% during the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor's stock valued at $38,000 after purchasing an additional 49 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on V shares. Macquarie raised their price target on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Erste Group Bank downgraded shares of Visa from a "buy" rating to a "hold" rating in a report on Monday, September 22nd. Morgan Stanley boosted their price target on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Finally, UBS Group restated a "buy" rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Visa presently has an average rating of "Moderate Buy" and a consensus target price of $385.96.

Insider Activity

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

Visa Trading Down 0.5%

Shares of V opened at $345.97 on Friday. The business's 50-day moving average price is $343.92 and its 200 day moving average price is $346.60. The stock has a market capitalization of $634.09 billion, a P/E ratio of 33.79, a P/E/G ratio of 2.06 and a beta of 0.90. Visa Inc. has a 1-year low of $273.24 and a 1-year high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

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

Visa Dividend Announcement

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

Visa Company 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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