Visa Inc. (NYSE:V) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. lessened its stake in shares of Visa Inc. (NYSE:V) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 112,172 shares of the credit-card processor’s stock after selling 3,684 shares during the quarter. Visa comprises about 0.8% of Northwest & Ethical Investments L.P.’s investment portfolio, making the stock its 24th biggest holding. Northwest & Ethical Investments L.P.’s holdings in Visa were worth $30,842,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Arjuna Capital lifted its stake in Visa by 0.8% in the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after acquiring an additional 96 shares in the last quarter. Custom Index Systems LLC bought a new position in Visa in the 3rd quarter worth $731,000. Mechanics Bank Trust Department lifted its position in shares of Visa by 8.0% during the 2nd quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock worth $8,520,000 after purchasing an additional 2,410 shares during the last quarter. Chicago Capital LLC boosted 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 during the period. Finally, Baader Bank Aktiengesellschaft grew its position in Visa by 9.3% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 58,655 shares of the credit-card processor’s stock worth $15,299,000 after purchasing an additional 4,988 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of a number of analyst reports. Citigroup upped their target price on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets increased their price objective on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler boosted their price target on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group restated a “buy” rating and set a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Finally, Morgan Stanley upped their price objective on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated 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 directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was 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 owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V traded up $2.88 during trading on Thursday, hitting $314.70. 5,204,318 shares of the company were exchanged, compared to its average volume of 6,985,911. The company has a market cap of $586.25 billion, a PE ratio of 32.34, a P/E/G ratio of 2.10 and a beta of 0.95. Visa Inc. has a 52-week low of $251.61 and a 52-week high of $316.37. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a 50 day moving average of $290.89 and a 200 day moving average of $278.06.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.33 earnings per share. As a group, equities research analysts predict that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Tuesday, November 12th. Visa’s payout ratio is 24.25%.

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.