Fortis Group Advisors LLC Has $3.23 Million Holdings in Visa Inc. $V

Fortis Group Advisors LLC decreased its position in Visa Inc. (NYSE:V) by 29.0% in the third quarter, HoldingsChannel reports. The firm owned 9,480 shares of the credit-card processor’s stock after selling 3,881 shares during the period. Fortis Group Advisors LLC’s holdings in Visa were worth $3,231,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Sonoma Allocations LLC bought a new position in Visa in the third quarter valued at approximately $710,000. AQR Capital Management LLC lifted its stake in shares of Visa by 1.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock valued at $438,196,000 after purchasing an additional 21,401 shares during the period. Baltimore Washington Financial Advisors Inc. boosted its position in shares of Visa by 5.9% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock worth $33,783,000 after purchasing an additional 5,295 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of Visa by 2.6% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 574,043 shares of the credit-card processor’s stock worth $198,596,000 after purchasing an additional 14,581 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of Visa by 24.1% during the third quarter. Federated Hermes Inc. now owns 823,262 shares of the credit-card processor’s stock worth $281,045,000 after purchasing an additional 159,906 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Up 1.6%

Shares of V stock opened at $319.14 on Wednesday. The firm’s fifty day moving average price is $337.60 and its two-hundred day moving average price is $339.37. The company has a current ratio of 1.11, a quick ratio of 1.11 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 firm has a market capitalization of $579.29 billion, a P/E ratio of 29.94, a PEG ratio of 1.80 and a beta of 0.79.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.03. The company had revenue of $10.90 billion during the quarter, compared to analysts’ expectations of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.Visa’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.75 EPS. On average, equities analysts predict 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. Shareholders of record on Tuesday, February 10th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, February 10th. Visa’s dividend payout ratio (DPR) is currently 25.14%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Raymond James Financial restated an “outperform” rating and set a $408.00 target price (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. Truist Financial set a $372.00 price target on shares of Visa in a report on Tuesday, February 10th. Piper Sandler set a $160.00 target price on Visa in a research note on Wednesday, January 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research report on Wednesday, January 21st. Finally, Cantor Fitzgerald raised Visa to a “strong-buy” rating in a research note on Tuesday, January 27th. Six research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $392.21.

Insider Activity at Visa

In other Visa 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 transaction of $707,919.96. Following the sale, the insider directly owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. This represents a 7.60% decrease in their ownership of the stock. 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 stock in a transaction on 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 completion of the sale, the chief executive officer owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. This represents a 52.73% decrease in their position. The SEC filing for this sale provides additional information. 0.12% of the stock is owned by insiders.

Visa Company 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.