Frank Rimerman Advisors LLC Lowers Stake in Visa Inc. (NYSE:V)

Frank Rimerman Advisors LLC lowered its position in shares of Visa Inc. (NYSE:V) by 20.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,514 shares of the credit-card processor’s stock after selling 5,669 shares during the period. Frank Rimerman Advisors LLC’s holdings in Visa were worth $6,190,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Cordatus Wealth Management LLC raised its position in shares of Visa by 0.3% during the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock valued at $3,012,000 after buying an additional 37 shares in the last quarter. KMG Fiduciary Partners LLC boosted its holdings in shares of Visa by 0.3% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after purchasing an additional 37 shares during the period. Iron Horse Wealth Management LLC boosted its position in shares of Visa by 15.9% during the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock valued at $74,000 after buying an additional 37 shares during the period. Tlwm lifted its holdings in Visa by 0.7% during the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock valued at $1,376,000 after buying an additional 38 shares in the last quarter. Finally, Meridian Financial Partners LLC raised its stake in Visa by 0.5% in the 2nd quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock worth $2,196,000 after acquiring an additional 38 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

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 transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Visa Stock Performance

NYSE:V opened at $281.73 on Monday. The company’s 50-day moving average is $279.02 and its two-hundred day moving average is $273.16. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market capitalization of $513.40 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 1.95 and a beta of 0.96.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on V shares. Compass Point assumed coverage on shares of Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective on the stock. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Piper Sandler lowered their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Bank of America lifted their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Finally, Robert W. Baird increased their price target on Visa from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.19.

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.