Visa Inc. (NYSE:V) is North Star Asset Management Inc.'s 6th Largest Position

Key Points

• North Star Asset Management Inc. reduced its holdings in Visa Inc. by 1.3%, owning 146,197 shares after selling 1,866 shares in the first quarter, valued at approximately $51.2 million.
• Visa has recently received multiple analyst upgrades, with Mizuho raising its rating from "neutral" to "outperform" and increasing the price target to $425, while fifteen analysts maintain a "buy" rating.
• The company declared a quarterly dividend of $0.59 per share, with a projected annualized yield of 0.67%, indicating a dividend payout ratio of 23.72%.

North Star Asset Management Inc. cut its holdings in Visa Inc. (NYSE:V - Free Report) by 1.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 146,197 shares of the credit-card processor's stock after selling 1,866 shares during the quarter. Visa comprises 2.3% of North Star Asset Management Inc.'s holdings, making the stock its 6th biggest position. North Star Asset Management Inc.'s holdings in Visa were worth $51,236,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of V. FWL Investment Management LLC boosted its holdings in shares of Visa by 0.5% in the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after buying an additional 29 shares during the last quarter. Yeomans Consulting Group Inc. boosted its holdings in shares of Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after buying an additional 29 shares during the last quarter. Semus Wealth Partners LLC boosted its holdings in shares of Visa by 0.8% in the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after buying an additional 29 shares during the last quarter. Capstone Financial Advisors Inc. boosted its holdings in shares of Visa by 3.6% in the 4th quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock valued at $276,000 after buying an additional 30 shares during the last quarter. Finally, Headinvest LLC boosted its holdings in shares of Visa by 0.8% in the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after buying an additional 30 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Down 1.9%

Shares of Visa stock traded down $6.66 during midday trading on Friday, reaching $338.81. The company had a trading volume of 8,655,366 shares, compared to its average volume of 6,632,218. The stock has a fifty day moving average price of $355.36 and a 200 day moving average price of $346.13. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.08. The firm has a market cap of $625.16 billion, a PE ratio of 33.09, a P/E/G ratio of 2.36 and a beta of 0.92. Visa Inc. has a fifty-two week low of $254.51 and a fifty-two week high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its 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 business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.42 earnings per share. On average, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's dividend payout ratio is 23.05%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on V shares. Citigroup started coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. Piper Sandler increased their price target on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Oppenheimer increased their price target on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. The Goldman Sachs Group assumed coverage on Visa in a research note on Monday, June 2nd. They issued a "neutral" rating on the stock. Finally, Truist Financial dropped their price target on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Visa has a consensus rating of "Moderate Buy" and an average price target of $380.84.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. This represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,913 shares of company stock valued at $32,902,432 in the last quarter. 0.13% of the stock is currently owned by corporate insiders.

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.