Austin Asset Management Co Inc Cuts Position in Visa Inc. (NYSE:V)

Austin Asset Management Co Inc trimmed its position in shares of Visa Inc. (NYSE:VGet Rating) by 7.1% during the second quarter, Holdings Channel reports. The firm owned 1,356 shares of the credit-card processor’s stock after selling 103 shares during the quarter. Austin Asset Management Co Inc’s holdings in Visa were worth $267,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of V. Monumental Financial Group Inc. purchased a new stake in Visa during the 1st quarter worth approximately $35,000. Rise Advisors LLC acquired a new position in shares of Visa in the fourth quarter worth $35,000. James Investment Research Inc. increased its position in shares of Visa by 1,400.0% during the first quarter. James Investment Research Inc. now owns 180 shares of the credit-card processor’s stock worth $40,000 after acquiring an additional 168 shares during the period. Rather & Kittrell Inc. acquired a new stake in shares of Visa in the fourth quarter valued at $43,000. Finally, Security Financial Services INC. purchased a new position in Visa in the fourth quarter valued at $44,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on V shares. Robert W. Baird cut their price target on Visa from $290.00 to $265.00 in a report on Wednesday, July 20th. Barclays upped their target price on shares of Visa from $263.00 to $271.00 and gave the stock an “overweight” rating in a research note on Thursday, July 28th. Truist Financial decreased their price target on shares of Visa from $275.00 to $250.00 in a research note on Thursday, June 30th. Susquehanna Bancshares dropped their price objective on shares of Visa from $290.00 to $260.00 in a research report on Thursday, July 28th. Finally, Citigroup reduced their price objective on shares of Visa from $270.00 to $254.00 in a report on Tuesday, July 26th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average target price of $257.64.

Visa Stock Performance

Shares of Visa stock opened at $193.30 on Monday. The firm’s fifty day simple moving average is $207.53 and its 200-day simple moving average is $207.32. Visa Inc. has a 12 month low of $185.91 and a 12 month high of $236.96. The stock has a market capitalization of $365.42 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 1.56 and a beta of 0.90. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.43 and a quick ratio of 1.43.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 12th were paid a $0.375 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.50 dividend on an annualized basis and a yield of 0.78%. Visa’s dividend payout ratio is presently 22.12%.

Insider Activity

In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $195.37, for a total transaction of $1,758,330.00. Following the transaction, the chief executive officer now owns 159,887 shares of the company’s stock, valued at $31,237,123.19. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.21% of the company’s stock.

Visa Profile

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Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

Further Reading

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Institutional Ownership by Quarter for Visa (NYSE:V)

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