Red Spruce Capital LLC Decreases Stock Position in Visa Inc. (NYSE:V)

Red Spruce Capital LLC trimmed its position in shares of Visa Inc. (NYSE:V) by 7.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,814 shares of the credit-card processor’s stock after selling 321 shares during the quarter. Red Spruce Capital LLC’s holdings in Visa were worth $1,205,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Unionview LLC grew its holdings in Visa by 1.5% in the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after purchasing an additional 33 shares during the last quarter. Forza Wealth Management LLC grew its stake in Visa by 2.9% during the 4th quarter. Forza Wealth Management LLC now owns 1,164 shares of the credit-card processor’s stock worth $368,000 after buying an additional 33 shares during the last quarter. Presilium Private Wealth LLC increased its position in Visa by 2.2% during the 4th quarter. Presilium Private Wealth LLC now owns 1,503 shares of the credit-card processor’s stock valued at $475,000 after buying an additional 33 shares in the last quarter. St. Louis Trust Co increased its holdings in shares of Visa by 0.9% during the third quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock valued at $1,068,000 after acquiring an additional 34 shares in the last quarter. Finally, FWG Holdings LLC grew its holdings in shares of Visa by 1.1% during the third 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 last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 1.4 %

NYSE:V opened at $328.18 on Friday. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $328.51. The stock’s fifty day moving average is $314.14 and its two-hundred day moving average is $289.71. The stock has a market capitalization of $611.36 billion, a price-to-earnings ratio of 33.73, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 EPS. Research analysts anticipate that Visa Inc. will post 11.2 EPS for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.72%. Visa’s payout ratio is 24.25%.

Wall Street Analyst Weigh In

Several research firms have commented on V. Jefferies Financial Group upped their price target on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird lifted their price objective on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. BMO Capital Markets increased their target price on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler lifted their target price 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. Finally, Royal Bank of Canada raised their price target on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $332.81.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the business’s 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 transaction, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Insiders own 0.13% 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.