FDx Advisors Inc. Sells 246 Shares of Visa Inc. (NYSE:V)

FDx Advisors Inc. decreased its stake in shares of Visa Inc. (NYSE:V) by 6.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,526 shares of the credit-card processor’s stock after selling 246 shares during the quarter. FDx Advisors Inc.’s holdings in Visa were worth $969,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. POM Investment Strategies LLC grew its position in shares of Visa by 970.0% during the 2nd 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 acquired a new stake in Visa in the 3rd quarter valued at $31,000. TruNorth Capital Management LLC grew its position in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. Abich Financial Wealth Management LLC grew its position in Visa by 52.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after purchasing an additional 46 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in Visa in the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 1.0 %

Shares of Visa stock opened at $310.98 on Tuesday. Visa Inc. has a 52-week low of $244.11 and a 52-week high of $312.44. The stock’s 50-day simple moving average is $283.95 and its 200 day simple moving average is $274.67. The stock has a market capitalization of $566.70 billion, a P/E ratio of 31.96, a P/E/G ratio of 2.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the previous year, the business posted $2.33 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, research analysts anticipate that Visa Inc. will post 11.18 EPS for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s payout ratio is currently 21.38%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Compass Point assumed coverage on shares of Visa in a research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target for the company. Piper Sandler lifted their price target on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Robert W. Baird lifted their price target on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $321.74.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.