Vaughan David Investments LLC IL Sells 990 Shares of Visa Inc. (NYSE:V)

Vaughan David Investments LLC IL reduced its stake in Visa Inc. (NYSE:V) by 37.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,619 shares of the credit-card processor’s stock after selling 990 shares during the period. Vaughan David Investments LLC IL’s holdings in Visa were worth $425,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Livelsberger Financial Advisory purchased a new stake in Visa in the fourth quarter worth about $25,000. Westend Capital Management LLC bought a new stake in shares of Visa in the 1st quarter valued at about $25,000. POM Investment Strategies LLC lifted its position in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. Frank Rimerman Advisors LLC bought a new position in shares of Visa during the fourth quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC increased its holdings in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Down 0.5 %

NYSE:V opened at $283.96 on Thursday. The company’s 50 day moving average is $267.62 and its two-hundred day moving average is $273.21. The company has a market cap of $517.46 billion, a PE ratio of 31.73, a P/E/G ratio of 1.97 and a beta of 0.96. 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 Inc. has a twelve month low of $227.78 and a twelve month high of $290.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The business had revenue of $8.90 billion for 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 business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.16 EPS. Analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s 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 sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of a number of analyst reports. Morgan Stanley lowered their target price on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Piper Sandler reduced their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Citigroup decreased their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $309.54.

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.