Visa Inc. $V Shares Sold by Norden Group LLC

Norden Group LLC decreased its holdings in Visa Inc. (NYSE:V - Free Report) by 4.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,820 shares of the credit-card processor's stock after selling 1,118 shares during the quarter. Visa makes up approximately 1.0% of Norden Group LLC's holdings, making the stock its 15th largest holding. Norden Group LLC's holdings in Visa were worth $8,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of V. Keystone Global Partners LLC purchased a new position in shares of Visa in the 1st quarter worth $26,000. von Borstel & Associates Inc. acquired a new stake in Visa during the first quarter worth about $27,000. Family Legacy Financial Solutions LLC acquired a new stake in Visa during the second quarter worth about $28,000. Cranbrook Wealth Management LLC raised its holdings in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after purchasing an additional 41 shares during the period. Finally, 1 North Wealth Services LLC acquired a new position in shares of Visa in the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Visa Trading Down 0.0%

V opened at $338.69 on Thursday. Visa Inc. has a 12-month low of $268.23 and a 12-month high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $620.75 billion, a PE ratio of 33.08, a P/E/G ratio of 2.25 and a beta of 0.92. The firm's fifty day moving average price is $345.19 and its 200 day moving average price is $346.27.

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

Visa Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's dividend payout ratio is presently 23.05%.

Wall Street Analyst Weigh In

V has been the subject of a number of research analyst reports. The Goldman Sachs Group assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a "neutral" rating on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective for the company. Oppenheimer upped their price target on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, Truist Financial decreased their target price on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and an average price target of $385.96.

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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