Partners Group Holding AG lessened its holdings in shares of Visa Inc. (NYSE:V – Get Rating) by 20.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,377 shares of the credit-card processor's stock after selling 608 shares during the quarter. Partners Group Holding AG's holdings in Visa were worth $468,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. 1ST Source Bank increased its holdings in shares of Visa by 0.3% in the second quarter. 1ST Source Bank now owns 14,266 shares of the credit-card processor's stock valued at $2,809,000 after buying an additional 47 shares in the last quarter. Austin Private Wealth LLC grew its position in Visa by 1.4% during the 2nd quarter. Austin Private Wealth LLC now owns 3,522 shares of the credit-card processor's stock worth $693,000 after purchasing an additional 49 shares in the last quarter. Sanders Morris Harris LLC grew its position in Visa by 0.6% during the 2nd quarter. Sanders Morris Harris LLC now owns 9,090 shares of the credit-card processor's stock worth $1,802,000 after purchasing an additional 50 shares in the last quarter. JGP Wealth Management LLC grew its holdings in shares of Visa by 1.9% during the 2nd quarter. JGP Wealth Management LLC now owns 2,649 shares of the credit-card processor's stock valued at $533,000 after acquiring an additional 50 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. grew its holdings in shares of Visa by 3.9% during the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 1,322 shares of the credit-card processor's stock valued at $260,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 81.49% of the company's stock.
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Insiders Place Their Bets
In other Visa news, CEO Alfred F. Kelly, Jr. sold 6,000 shares of the stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $180.00, for a total value of $1,080,000.00. Following the sale, the chief executive officer now directly owns 153,887 shares in the company, valued at $27,699,660. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.21% of the company's stock.
Visa Trading Down 0.9 %
NYSE V traded down $1.92 during trading hours on Friday, hitting $215.08. The company's stock had a trading volume of 108,938 shares, compared to its average volume of 7,248,167. The stock has a fifty day moving average of $196.38 and a 200 day moving average of $201.68. Visa Inc. has a twelve month low of $174.60 and a twelve month high of $235.85. The firm has a market capitalization of $405.10 billion, a P/E ratio of 30.80, a PEG ratio of 1.74 and a beta of 0.96. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.61.
Visa announced that its Board of Directors has approved a share repurchase program on Tuesday, October 25th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.
Visa Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th will be issued a $0.395 dividend. The ex-dividend date is Thursday, December 15th. This represents a $1.58 annualized dividend and a yield of 0.73%. Visa's dividend payout ratio (DPR) is presently 25.75%.
Analyst Ratings Changes
Several equities analysts have recently commented on V shares. Oppenheimer lowered their price target on shares of Visa from $216.00 to $210.00 and set an "outperform" rating on the stock in a report on Wednesday, October 26th. Truist Financial decreased their price objective on shares of Visa from $250.00 to $220.00 and set a "buy" rating for the company in a report on Thursday, October 13th. Jefferies Financial Group decreased their price objective on shares of Visa from $250.00 to $220.00 and set a "buy" rating for the company in a report on Wednesday, October 19th. Robert W. Baird upped their price objective on shares of Visa from $240.00 to $250.00 in a report on Wednesday, October 26th. Finally, Barclays decreased their price objective on shares of Visa from $271.00 to $264.00 and set an "overweight" rating for the company in a report on Thursday, October 27th. One equities research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $249.00.
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.
Further Reading
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