Rede Wealth LLC Sells 39 Shares of Visa Inc. (NYSE:V)

Rede Wealth LLC decreased its holdings in Visa Inc. (NYSE:V) by 1.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,356 shares of the credit-card processor’s stock after selling 39 shares during the quarter. Rede Wealth LLC’s holdings in Visa were worth $745,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in V. Decker Retirement Planning Inc. bought a new stake in shares of Visa during the 4th quarter valued at $26,000. Peterson Financial Group Inc. bought a new stake in Visa during the third quarter valued at about $26,000. Modus Advisors LLC bought a new stake in Visa during the fourth quarter valued at about $32,000. Reston Wealth Management LLC purchased a new stake in Visa in the third quarter worth about $31,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in Visa in the fourth quarter worth about $44,000. 82.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and issued a $383.00 target price (up from $368.00) on shares of Visa in a report on Friday, January 31st. TD Cowen upped their price target on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods raised their price target on Visa from $360.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Four analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $354.73.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,572 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the transaction, the general counsel now directly owns 11,925 shares in the company, valued at $4,054,500. This represents a 17.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,056 shares of company stock worth $19,830,050 over the last 90 days. Company insiders own 0.13% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $350.88 on Wednesday. The firm has a market capitalization of $651.85 billion, a PE ratio of 35.37, a PEG ratio of 2.32 and a beta of 0.97. The stock’s fifty day moving average is $321.77 and its 200 day moving average is $296.88. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $352.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.28 and a current ratio of 1.12.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, sell-side analysts anticipate that Visa Inc. will post 11.27 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s payout ratio is currently 23.79%.

About Visa

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.