Cadinha & Co. LLC Lowers Holdings in Visa Inc. (NYSE:V)

Cadinha & Co. LLC trimmed its holdings in Visa Inc. (NYSE:V) by 81.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,059 shares of the credit-card processor’s stock after selling 30,207 shares during the period. Cadinha & Co. LLC’s holdings in Visa were worth $1,941,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in V. Visionary Wealth Advisors raised its position in Visa by 3.9% during the fourth quarter. Visionary Wealth Advisors now owns 4,685 shares of the credit-card processor’s stock valued at $1,220,000 after purchasing an additional 177 shares during the period. Caxton Associates LP acquired a new stake in shares of Visa in the 4th quarter worth $2,601,000. First Financial Bankshares Inc acquired a new stake in shares of Visa in the 4th quarter worth $1,222,000. Garner Asset Management Corp acquired a new stake in shares of Visa in the 4th quarter worth $103,000. Finally, Point72 Europe London LLP acquired a new stake in shares of Visa in the 4th quarter worth $672,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on V. Piper Sandler cut their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Morgan Stanley reiterated an “overweight” rating and set a $322.00 price objective on shares of Visa in a research note on Wednesday, September 25th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Compass Point assumed coverage on Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $312.04.

Visa Price Performance

Shares of NYSE:V traded down $0.36 during trading on Thursday, reaching $276.57. The company had a trading volume of 571,149 shares, compared to its average volume of 7,123,169. Visa Inc. has a twelve month low of $228.03 and a twelve month high of $293.07. The firm has a market capitalization of $505.83 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. The firm’s fifty day moving average is $273.71 and its 200 day moving average is $272.71. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.16 earnings per share. On average, equities analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

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

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.