Audent Global Asset Management LLC Sells 1,710 Shares of Visa Inc. (NYSE:V)

Audent Global Asset Management LLC reduced its holdings in Visa Inc. (NYSE:V) by 45.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,083 shares of the credit-card processor’s stock after selling 1,710 shares during the quarter. Visa comprises 1.0% of Audent Global Asset Management LLC’s investment portfolio, making the stock its 25th largest position. Audent Global Asset Management LLC’s holdings in Visa were worth $573,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Kestra Investment Management LLC bought a new stake in shares of Visa during the third quarter valued at approximately $1,982,000. Paradigm Capital Management LLC NV bought a new stake in shares of Visa during the third quarter valued at approximately $1,034,000. FSA Wealth Management LLC bought a new stake in shares of Visa during the third quarter valued at approximately $228,000. B&L Asset Management LLC bought a new stake in shares of Visa during the third quarter valued at approximately $1,097,000. Finally, Erste Asset Management GmbH purchased a new position in Visa during the third quarter valued at $139,446,000. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

NYSE:V opened at $315.08 on Monday. The stock has a 50-day simple moving average of $292.09 and a two-hundred day simple moving average of $278.55. Visa Inc. has a 52-week low of $252.14 and a 52-week high of $316.37. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $586.96 billion, a PE ratio of 32.38, a P/E/G ratio of 2.12 and a beta of 0.95.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the company posted $2.33 earnings per share. Visa’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts forecast that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio is 24.25%.

Analyst Ratings Changes

V has been the subject of a number of recent research reports. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Piper Sandler lifted their price objective on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Susquehanna lifted their price objective on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Finally, TD Cowen lifted their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Visa Profile

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.