B. Riley Wealth Advisors Inc. lowered its position in Visa Inc. (NYSE:V - Free Report) by 16.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,175 shares of the credit-card processor's stock after selling 10,761 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Visa were worth $14,658,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Peterson Financial Group Inc. purchased a new position in Visa during the third quarter valued at $26,000. POM Investment Strategies LLC raised its stake in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor's stock worth $28,000 after buying an additional 97 shares during the period. Reston Wealth Management LLC purchased a new position in shares of Visa during the 3rd quarter valued at about $31,000. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Visa during the 2nd quarter valued at approximately $35,000. Finally, West Financial Advisors LLC increased its holdings in Visa by 101.4% in the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor's stock worth $40,000 after acquiring an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.
V opened at $314.81 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a market cap of $586.45 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 2.11 and a beta of 0.96. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $317.42. The stock has a fifty day moving average price of $299.30 and a 200-day moving average price of $280.99.
Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. The firm 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 53.16% and a net margin of 54.96%. The firm's revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.33 EPS. As a group, equities research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Tuesday, November 12th. This is an increase from Visa's previous quarterly dividend of $0.52. Visa's payout ratio is currently 24.25%.
V has been the subject of a number of analyst reports. Piper Sandler increased their price objective 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. Royal Bank of Canada boosted their price objective on Visa from $311.00 to $322.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Barclays increased their target price on Visa from $319.00 to $347.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. Morgan Stanley boosted their price target on Visa from $322.00 to $326.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group increased their price objective on shares of Visa from $320.00 to $330.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Visa has an average rating of "Moderate Buy" and a consensus target price of $324.74.
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In other Visa news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.19% of the stock is currently owned by company insiders.
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.
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