Guinness Atkinson Asset Management Inc Sells 1,610 Shares of Visa Inc. $V

Guinness Atkinson Asset Management Inc lessened its position in shares of Visa Inc. (NYSE:V) by 7.9% in the third quarter, Holdings Channel.com reports. The firm owned 18,687 shares of the credit-card processor’s stock after selling 1,610 shares during the period. Visa makes up about 3.0% of Guinness Atkinson Asset Management Inc’s investment portfolio, making the stock its 13th largest position. Guinness Atkinson Asset Management Inc’s holdings in Visa were worth $6,357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of V. Transcendent Capital Group LLC increased its stake in Visa by 2.9% in the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock valued at $360,000 after buying an additional 29 shares during the last quarter. Insight Wealth Strategies LLC lifted its holdings in Visa by 1.6% during the 3rd quarter. Insight Wealth Strategies LLC now owns 1,875 shares of the credit-card processor’s stock valued at $640,000 after purchasing an additional 29 shares during the last quarter. Old Port Advisors boosted its holdings in shares of Visa by 0.9% during the 3rd quarter. Old Port Advisors now owns 3,423 shares of the credit-card processor’s stock worth $1,169,000 after buying an additional 29 shares during the period. Interchange Capital Partners LLC grew its position in shares of Visa by 0.5% in the second quarter. Interchange Capital Partners LLC now owns 6,413 shares of the credit-card processor’s stock valued at $2,276,000 after purchasing an additional 30 shares during the last quarter. Finally, Carr Financial Group Corp increased its position in Visa by 2.4% during the 3rd quarter. Carr Financial Group Corp now owns 1,290 shares of the credit-card processor’s stock worth $440,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

V opened at $329.05 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.08 and a debt-to-equity ratio of 0.51. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The company has a market cap of $599.43 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 1.89 and a beta of 0.79. The company’s fifty day moving average price is $338.56 and its two-hundred day moving average price is $341.08.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.03. The business had revenue of $10.90 billion during the quarter, compared to the consensus estimate of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.The company’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.75 EPS. On average, analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, February 10th. Visa’s dividend payout ratio is presently 25.14%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Daiwa Capital Markets upgraded Visa from a “neutral” rating to an “outperform” rating and set a $370.00 target price for the company in a research report on Monday. Citigroup raised shares of Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Piper Sandler set a $160.00 price objective on Visa in a research report on Wednesday, January 28th. Hsbc Global Res upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Finally, Evercore ISI set a $380.00 price target on shares of Visa in a report on Friday, December 12th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $392.00.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the sale, the insider owned 26,413 shares in the company, valued at $8,608,789.09. This represents a 7.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the transaction, the chief executive officer directly owned 9,401 shares in the company, valued at $3,282,641.18. The trade was a 52.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is owned by insiders.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.