SOA Wealth Advisors LLC. Sells 140 Shares of Visa Inc. (NYSE:V)

by · The Cerbat Gem

SOA Wealth Advisors LLC. trimmed its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,668 shares of the credit-card processor’s stock after selling 140 shares during the period. SOA Wealth Advisors LLC.’s holdings in Visa were worth $733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Arjuna Capital increased its holdings in Visa by 0.8% in the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after buying an additional 96 shares in the last quarter. Custom Index Systems LLC acquired a new position in shares of Visa during the 3rd quarter worth approximately $731,000. FORA Capital LLC purchased a new position in shares of Visa during the 3rd quarter valued at approximately $7,987,000. Chicago Capital LLC lifted its position in shares of Visa by 5.2% in the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after acquiring an additional 20,023 shares in the last quarter. Finally, Nexus Investment Management ULC boosted its stake in shares of Visa by 5,034.0% in the third quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock worth $15,499,000 after acquiring an additional 55,273 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

V has been the subject of a number of research reports. Macquarie upped their target price on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. TD Cowen lifted their target price on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a report on Tuesday, September 3rd. Finally, Barclays increased their target price on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $324.74.

View Our Latest Analysis on Visa

Visa Price Performance

Shares of NYSE V opened at $313.83 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a market cap of $584.62 billion, a price-to-earnings ratio of 32.25, a PEG ratio of 2.07 and a beta of 0.96. The company’s 50-day moving average price is $297.08 and its 200 day moving average price is $280.24. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $317.42.

Visa (NYSE:V – Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.33 EPS. As a group, research analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.75%. Visa’s payout ratio is presently 24.25%.

About Visa

(Free Report)

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.

Further Reading

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