Saxon Interests Inc. Lowers Holdings in Visa Inc. (NYSE:V)

Saxon Interests Inc. trimmed its position in Visa Inc. (NYSE:V) by 10.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,745 shares of the credit-card processor’s stock after selling 196 shares during the period. Saxon Interests Inc.’s holdings in Visa were worth $480,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in V. Visionary Wealth Advisors lifted its holdings in shares of Visa by 3.9% in the 4th quarter. Visionary Wealth Advisors now owns 4,685 shares of the credit-card processor’s stock worth $1,220,000 after acquiring an additional 177 shares during the last quarter. Hancock Whitney Corp boosted its holdings in Visa by 1.7% during the 4th quarter. Hancock Whitney Corp now owns 129,121 shares of the credit-card processor’s stock valued at $33,617,000 after acquiring an additional 2,160 shares during the period. Ethic Inc. grew its position in Visa by 7.4% during the 4th quarter. Ethic Inc. now owns 125,488 shares of the credit-card processor’s stock worth $32,671,000 after acquiring an additional 8,616 shares during the last quarter. Putnam Investments LLC increased its stake in Visa by 2.0% in the 4th quarter. Putnam Investments LLC now owns 2,375,085 shares of the credit-card processor’s stock worth $618,353,000 after purchasing an additional 47,487 shares during the period. Finally, Left Brain Wealth Management LLC lifted its position in Visa by 1.2% in the fourth quarter. Left Brain Wealth Management LLC now owns 14,619 shares of the credit-card processor’s stock valued at $3,806,000 after purchasing an additional 179 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.19% of the company’s stock.

Visa Trading Up 0.6 %

Shares of Visa stock traded up $1.74 on Wednesday, hitting $276.70. 1,251,176 shares of the company traded hands, compared to its average volume of 7,141,037. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07. The company has a market cap of $506.07 billion, a PE ratio of 30.81, a PEG ratio of 1.92 and a beta of 0.96. The stock’s 50 day moving average price is $273.48 and its 200-day moving average price is $272.68. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company posted $2.16 earnings per share. Equities research analysts predict that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is 23.24%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on V. JPMorgan Chase & Co. upped their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Citigroup reduced their target price on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Jefferies Financial Group reduced their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Piper Sandler dropped their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $312.04.

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.