Financial Management Network Inc. Decreases Stock Holdings in Visa Inc. (NYSE:V)

Financial Management Network Inc. lessened its holdings in Visa Inc. (NYSE:V) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,127 shares of the credit-card processor’s stock after selling 37 shares during the period. Visa comprises approximately 1.2% of Financial Management Network Inc.’s holdings, making the stock its 22nd biggest holding. Financial Management Network Inc.’s holdings in Visa were worth $5,594,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hilltop National Bank acquired a new stake in Visa in the first quarter valued at approximately $1,212,000. Absolute Capital Management LLC purchased a new position in shares of Visa in the first quarter valued at $404,000. Davidson Capital Management Inc. boosted its stake in shares of Visa by 0.5% in the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after purchasing an additional 44 shares during the period. Empirical Finance LLC grew its holdings in Visa by 4.4% during the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after purchasing an additional 1,914 shares in the last quarter. Finally, Arjuna Capital increased its stake in Visa by 0.8% during the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after buying an additional 96 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on V. TD Cowen lowered their target price on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Piper Sandler lowered 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. Citigroup cut their target price on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Morgan Stanley restated an “overweight” rating and issued a $322.00 price target on shares of Visa in a research note on Wednesday, September 25th. Finally, Oppenheimer assumed coverage on shares of Visa in a research note on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price objective on the stock. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.19.

Visa Price Performance

Shares of NYSE:V opened at $281.73 on Friday. The firm’s 50 day moving average is $279.02 and its two-hundred day moving average is $273.17. The firm has a market capitalization of $515.27 billion, a P/E ratio of 31.48, a PEG ratio of 1.96 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 52 week low of $228.03 and a 52 week high of $293.07.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The stock was 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 of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.19% of the stock is owned by insiders.

Visa 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.