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Richardson Financial Services Inc. lowered its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 2.2% during the 4th quarter, Holdings Channel reports. The fund owned 4,345 shares of the credit-card processor’s stock after selling 99 shares during the period. Visa makes up approximately 1.0% of Richardson Financial Services Inc.’s portfolio, making the stock its 19th largest holding. Richardson Financial Services Inc.’s holdings in Visa were worth $1,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Sylvest Advisors LLC bought a new stake in shares of Visa in the 4th quarter worth $521,000. SYM FINANCIAL Corp raised its stake in shares of Visa by 29.7% in the 4th quarter. SYM FINANCIAL Corp now owns 2,194 shares of the credit-card processor’s stock worth $693,000 after buying an additional 503 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. raised its stake in shares of Visa by 3.5% in the 4th quarter. Comprehensive Financial Consultants Institutional Inc. now owns 8,227 shares of the credit-card processor’s stock worth $2,600,000 after buying an additional 282 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Visa by 35.8% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 168,420 shares of the credit-card processor’s stock worth $53,227,000 after buying an additional 44,438 shares in the last quarter. Finally, Symphony Financial Ltd. Co. raised its stake in shares of Visa by 0.7% in the 4th quarter. Symphony Financial Ltd. Co. now owns 11,059 shares of the credit-card processor’s stock worth $3,579,000 after buying an additional 72 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.
Insider Buying and Selling
In related news, General Counsel Julie B. Rottenberg sold 2,572 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $874,480.00. Following the transaction, the general counsel now directly owns 11,925 shares in the company, valued at $4,054,500. The trade was a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,983 shares of company stock valued at $7,213,146. Insiders own 0.13% of the company’s stock.
Visa Price Performance
Shares of NYSE:V opened at $345.31 on Wednesday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $351.25. The business has a 50-day moving average of $318.40 and a two-hundred day moving average of $293.81. The stock has a market capitalization of $643.27 billion, a P/E ratio of 34.81, a P/E/G ratio of 2.30 and a beta of 0.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.28.
Visa (NYSE:V – Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, equities research analysts predict that Visa Inc. will post 11.2 EPS for the current fiscal year.
Visa Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa’s dividend payout ratio is presently 23.79%.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the company. Susquehanna lifted their target price on Visa from $375.00 to $395.00 and gave the stock a “positive” rating in a report on Friday, January 31st. Citigroup lifted their target price on Visa from $354.00 to $393.00 and gave the stock a “buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Jefferies Financial Group lifted their target price on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $383.00 target price (up from $368.00) on shares of Visa in a report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $354.73.
Visa Company 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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