Visa Inc. (NYSE:V) Shares Sold by ClariVest Asset Management LLC

ClariVest Asset Management LLC trimmed its position in shares of Visa Inc. (NYSE:VGet Rating) by 4.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 134,819 shares of the credit-card processor’s stock after selling 5,800 shares during the period. Visa accounts for approximately 1.2% of ClariVest Asset Management LLC’s holdings, making the stock its 13th biggest position. ClariVest Asset Management LLC’s holdings in Visa were worth $26,544,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of V. Aurora Private Wealth Inc. lifted its stake in shares of Visa by 7,648.7% in the 2nd quarter. Aurora Private Wealth Inc. now owns 79,502 shares of the credit-card processor’s stock worth $31,000 after acquiring an additional 78,476 shares during the period. Monumental Financial Group Inc. acquired a new stake in shares of Visa in the 1st quarter worth approximately $35,000. Ritter Daniher Financial Advisory LLC DE acquired a new stake in shares of Visa in the 2nd quarter worth approximately $35,000. Apeiron RIA LLC lifted its stake in shares of Visa by 7.1% in the 2nd quarter. Apeiron RIA LLC now owns 1,589 shares of the credit-card processor’s stock worth $40,000 after acquiring an additional 105 shares during the period. Finally, Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in shares of Visa in the 2nd quarter worth approximately $44,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Visa

In related news, CEO Alfred F. Kelly, Jr. sold 6,000 shares of the company’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $180.00, for a total transaction of $1,080,000.00. Following the completion of the transaction, 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 filing with the SEC, which is available through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Susquehanna dropped their target price on shares of Visa from $290.00 to $260.00 in a report on Thursday, July 28th. Truist Financial dropped their target price on shares of Visa from $250.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, October 13th. Daiwa Capital Markets downgraded shares of Visa from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $230.00 to $225.00 in a report on Tuesday, August 16th. Robert W. Baird boosted their target price on shares of Visa from $240.00 to $250.00 in a report on Wednesday, October 26th. Finally, Raymond James cut their price target on shares of Visa from $262.00 to $261.00 and set an “outperform” rating on the stock in a report on Tuesday, October 18th. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $248.14.

Visa Stock Performance

NYSE:V traded up $1.40 during trading hours on Thursday, hitting $211.73. 3,807,338 shares of the company traded hands, compared to its average volume of 7,973,231. The stock has a market capitalization of $400.26 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 1.69 and a beta of 0.96. Visa Inc. has a twelve month low of $174.60 and a twelve month high of $235.85. The firm has a 50-day moving average of $193.72 and a 200 day moving average of $200.97. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.61.

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

Visa Cuts Dividend

The business 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 dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 0.75%. The ex-dividend date is Thursday, December 15th. Visa’s payout ratio is currently 25.75%.

Visa Profile

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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

Institutional Ownership by Quarter for Visa (NYSE:V)

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