Salem Investment Counselors Inc. trimmed its stake in shares of Visa Inc. (NYSE:V - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,463 shares of the credit-card processor's stock after selling 2,832 shares during the quarter. Visa makes up 0.8% of Salem Investment Counselors Inc.'s investment portfolio, making the stock its 25th largest position. Salem Investment Counselors Inc.'s holdings in Visa were worth $24,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also bought and sold shares of the company. Custom Index Systems LLC bought a new position in Visa in the third quarter worth about $731,000. Copley Financial Group Inc. bought a new position in shares of Visa in the 3rd quarter worth approximately $616,000. FORA Capital LLC purchased a new position in shares of Visa in the 3rd quarter valued at approximately $7,987,000. Chicago Capital LLC boosted its position in shares of Visa by 5.2% during the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor's stock valued at $111,331,000 after purchasing an additional 20,023 shares in the last quarter. Finally, Nexus Investment Management ULC grew its stake in Visa by 5,034.0% in the third quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor's stock worth $15,499,000 after purchasing an additional 55,273 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
V has been the topic of a number of recent research reports. Monness Crespi & Hardt reaffirmed a "neutral" rating on shares of Visa in a research report on Tuesday, September 24th. Robert W. Baird raised their target price on shares of Visa from $330.00 to $340.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Piper Sandler lifted their target price on shares of Visa from $319.00 to $322.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods upped their price target on Visa from $335.00 to $360.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Finally, Oppenheimer lifted their price objective on Visa from $321.00 to $375.00 and gave the company an "outperform" rating in a research note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $330.85.
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Visa Stock Performance
Shares of Visa stock traded down $1.12 on Monday, hitting $306.59. 9,568,338 shares of the company's stock were exchanged, compared to its average volume of 6,080,117. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market capitalization of $571.14 billion, a PE ratio of 31.51, a PEG ratio of 2.11 and a beta of 0.96. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $321.61. The company has a 50-day simple moving average of $312.14 and a 200-day simple moving average of $287.04.
Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the company posted $2.33 earnings per share. Visa's revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities analysts anticipate that Visa Inc. will post 11.23 EPS for the current year.
Visa Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This is a boost from Visa's previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.77%. Visa's dividend payout ratio (DPR) is presently 24.25%.
Insider Buying and Selling at Visa
In other news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the firm's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares of the company's stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.
About Visa
(
Free Report)
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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