Scott & Selber Inc. Trims Position in Visa Inc. (NYSE:V)

Scott & Selber Inc. reduced its position in Visa Inc. (NYSE:V) by 0.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 10,802 shares of the credit-card processor’s stock after selling 53 shares during the period. Scott & Selber Inc.’s holdings in Visa were worth $2,970,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. POM Investment Strategies LLC raised its stake in Visa by 970.0% during the second 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. Reston Wealth Management LLC purchased a new position in Visa in the 3rd quarter valued at about $31,000. TruNorth Capital Management LLC grew its stake in shares of 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 acquiring an additional 89 shares in the last quarter. Abich Financial Wealth Management LLC increased its position in shares of Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after acquiring an additional 46 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Visa in the 2nd quarter valued at approximately $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 sale, the chief executive officer now owns 538 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. BMO Capital Markets raised their price objective on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler upped their price objective on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley boosted their price target on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Macquarie boosted their target price on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Visa Stock Performance

V opened at $307.87 on Friday. The business has a fifty day simple moving average of $283.95 and a 200-day simple moving average of $274.67. The firm has a market cap of $561.03 billion, a PE ratio of 31.64, a P/E/G ratio of 2.06 and a beta of 0.95. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a fifty-two week low of $240.97 and a fifty-two week high of $311.15.

Visa (NYSE:V) last posted 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. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the previous year, the company earned $2.33 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities analysts predict that Visa Inc. will post 11.18 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.77%. Visa’s dividend payout ratio (DPR) is currently 21.38%.

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.