Aureus Asset Management LLC Sells 2,653 Shares of Visa Inc. (NYSE:V)

Aureus Asset Management LLC trimmed its holdings in Visa Inc. (NYSE:V) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 198,279 shares of the credit-card processor’s stock after selling 2,653 shares during the quarter. Visa makes up about 3.6% of Aureus Asset Management LLC’s holdings, making the stock its 6th biggest position. Aureus Asset Management LLC’s holdings in Visa were worth $54,517,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Unionview LLC increased its stake in Visa by 1.5% in the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after buying an additional 33 shares during the period. FWG Holdings LLC increased its stake in Visa by 1.1% in the 3rd quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock valued at $900,000 after buying an additional 34 shares during the period. St. Louis Trust Co increased its stake in Visa by 0.9% in the 3rd quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock valued at $1,068,000 after buying an additional 34 shares during the period. KMG Fiduciary Partners LLC increased its stake in Visa by 0.3% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after buying an additional 37 shares during the period. Finally, Iron Horse Wealth Management LLC increased its stake in Visa by 15.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock valued at $74,000 after buying an additional 37 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 0.1 %

NYSE V opened at $315.08 on Monday. Visa Inc. has a 12 month low of $252.14 and a 12 month high of $316.37. The company has a 50-day moving average of $292.09 and a 200-day moving average of $278.55. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $586.96 billion, a P/E ratio of 32.38, a P/E/G ratio of 2.12 and a beta of 0.95.

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

Visa Increases Dividend

The business 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 dividend of $0.59 per share. 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%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.

Insider Activity

In related news, insider Paul D. Fabara sold 2,171 shares of the 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 completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on 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 sale, 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.

Analyst Upgrades and Downgrades

V has been the topic of several research analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. JPMorgan Chase & Co. boosted their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Piper Sandler boosted their target price on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group boosted their target price on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

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.