Saybrook Capital NC Reduces Stock Position in Visa Inc. (NYSE:V)

Saybrook Capital NC lowered its position in shares of Visa Inc. (NYSE:V) by 1.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,286 shares of the credit-card processor’s stock after selling 1,155 shares during the quarter. Visa accounts for approximately 5.1% of Saybrook Capital NC’s investment portfolio, making the stock its 8th largest position. Saybrook Capital NC’s holdings in Visa were worth $18,225,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of Visa by 45,189.4% during the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after acquiring an additional 9,736,958 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Visa by 4,412.3% during the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after purchasing an additional 4,166,905 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Visa by 787.1% in the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after purchasing an additional 4,099,122 shares during the period. Swedbank AB purchased a new position in Visa in the 1st quarter worth about $511,321,000. Finally, GQG Partners LLC raised its holdings in Visa by 40.1% during the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after buying an additional 1,715,686 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday. Piper Sandler lifted their price objective on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley boosted their target price on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Finally, TD Cowen upped their price target on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $320.07.

Visa Price Performance

NYSE V opened at $290.16 on Thursday. Visa Inc. has a fifty-two week low of $232.99 and a fifty-two week high of $295.78. The stock’s 50-day moving average is $280.09 and its two-hundred day moving average is $273.38. The firm has a market cap of $530.68 billion, a P/E ratio of 32.42, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same period last year, the business earned $2.33 EPS. On average, analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

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.