Rehmann Capital Advisory Group reduced its stake in  Visa Inc. (NYSE:V) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor  owned 12,537 shares of the credit-card processor's stock after selling 510 shares during the period. Rehmann Capital Advisory Group's holdings in Visa were worth $2,469,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of V. Wellington Management Group LLP increased its position in  Visa by 33.1% during the 1st quarter. Wellington Management Group LLP now owns 22,222,170 shares of the credit-card processor's stock valued at $4,928,211,000 after purchasing an additional 5,527,427 shares during the period.  Clearbridge Investments LLC raised its stake in  Visa by 1.0% in the second quarter. Clearbridge Investments LLC now owns 13,200,244 shares of the credit-card processor's stock worth $2,598,996,000 after buying an additional 135,832 shares in the last quarter.  Jennison Associates LLC lifted its holdings in  Visa by 4.4% during the second quarter. Jennison Associates LLC now owns 13,192,941 shares of the credit-card processor's stock worth $2,597,558,000 after buying an additional 555,107 shares during the period.  Polen Capital Management LLC boosted its position in  Visa by 13.1% during the 1st quarter. Polen Capital Management LLC now owns 12,993,382 shares of the credit-card processor's stock valued at $2,881,542,000 after acquiring an additional 1,500,092 shares in the last quarter.  Finally, Royal Bank of Canada raised its position in shares of  Visa by 1.8% in the 1st quarter. Royal Bank of Canada now owns 12,702,552 shares of the credit-card processor's stock worth $2,817,044,000 after acquiring an additional 225,605 shares in the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other news, CEO Alfred F. Kelly, Jr. sold 6,000 shares of the firm's stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $180.00, for a total transaction of $1,080,000.00. Following the sale, the chief executive officer now directly owns 153,887 shares in the company, valued at approximately $27,699,660. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on V shares. Keefe, Bruyette & Woods reduced their target price on shares of Visa from $275.00 to $246.00 in a report on Monday, October 10th. Truist Financial decreased their price objective on Visa from $250.00 to $220.00 and set a "buy" rating for the company in a report on Thursday, October 13th. Oppenheimer lowered their price objective on Visa from $216.00 to $210.00 and set an "outperform" rating for the company in a research report on Wednesday, October 26th. Redburn Partners initiated coverage on Visa in a research note on Tuesday. They issued a "sell" rating for the company. Finally, Wells Fargo & Company boosted their price target on Visa from $225.00 to $250.00 in a research note on Friday. One analyst  has rated the stock with a sell rating, four have given a hold rating and twenty-one have issued  a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $249.00.

Visa Stock Performance

NYSE:V traded down $1.68 during trading hours on Friday, reaching $215.32. The company had a trading volume of 90,553 shares, compared to its average volume of 7,248,167. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.45 and a quick ratio of 1.45. Visa Inc. has a 1-year low of $174.60 and a 1-year high of $235.85. The business's 50 day moving average price is $195.76 and its 200-day moving average price is $201.58. The firm has a market cap of $405.55 billion, a PE ratio of 31.04, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96.

Visa declared that its Board of Directors has initiated a share repurchase plan on Tuesday, October 25th that allows the company to buyback $12.00 billion in  outstanding  shares. This buyback authorization allows the credit-card processor to buy up to 3.1% of its stock  through open market purchases. Stock  buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Visa Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 16th will be paid a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Thursday, December 15th. Visa's dividend payout ratio  is currently 25.75%.

About Visa

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Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.