Visa Inc. (NYSE:V) Shares Sold by Tower Bridge Advisors

Posted by Defense World Staff on Apr 11th, 2023

Tower Bridge Advisors decreased its position in Visa Inc. (NYSE:V – Get Rating) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,163 shares of the credit-card processor’s stock after selling 1,712 shares during the quarter. Visa accounts for approximately 2.3% of Tower Bridge Advisors’ portfolio, making the stock its 6th largest position. Tower Bridge Advisors’ holdings in Visa were worth $27,666,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in V. McClarren Financial Advisors Inc. acquired a new position in shares of Visa in the third quarter valued at approximately $26,000. Global Wealth Strategies & Associates purchased a new position in Visa in the 4th quarter valued at approximately $26,000. Cowa LLC acquired a new position in shares of Visa in the third quarter worth $29,000. JDM Financial Group LLC acquired a new position in shares of Visa in the fourth quarter worth $29,000. Finally, McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Visa during the fourth quarter worth $31,000. 81.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent research reports. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Thursday, March 23rd. Robert W. Baird boosted their price objective on Visa from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, January 19th. Oppenheimer upped their target price on shares of Visa from $210.00 to $237.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 25th. Mizuho lifted their price target on shares of Visa from $220.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, January 30th. Finally, Raymond James increased their price objective on shares of Visa from $261.00 to $281.00 and gave the company an “outperform” rating in a research report on Friday, January 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $259.11.

Visa Stock Performance

Shares of V opened at $226.43 on Tuesday. The company’s 50 day simple moving average is $223.68 and its 200-day simple moving average is $211.40. The firm has a market cap of $425.91 billion, a PE ratio of 31.67, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. Visa Inc. has a 12-month low of $174.60 and a 12-month high of $234.30. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59.

Visa (NYSE:V – Get Rating) last issued its quarterly earnings data on Thursday, January 26th. The credit-card processor reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.17. Visa had a net margin of 50.28% and a return on equity of 49.95%. The company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same period last year, the firm posted $1.81 EPS. Visa’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities analysts predict that Visa Inc. will post 8.43 EPS for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.79%. The ex-dividend date was Thursday, February 9th. This is a boost from Visa’s previous quarterly dividend of $0.40. Visa’s payout ratio is 25.17%.

Insider Buying and Selling at Visa

In related news, insider Rajat Taneja sold 61,721 shares of the stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $229.92, for a total transaction of $14,190,892.32. Following the completion of the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at $53,367,191.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Visa news, General Counsel Julie B. Rottenberg sold 13,394 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $219.00, for a total transaction of $2,933,286.00. Following the transaction, the general counsel now owns 4,583 shares in the company, valued at approximately $1,003,677. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rajat Taneja sold 61,721 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $229.92, for a total value of $14,190,892.32. Following the completion of the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at $53,367,191.04. The disclosure for this sale can be found here. Insiders sold a total of 133,115 shares of company stock valued at $30,115,598 in the last ninety days. Insiders own 0.21% of the company’s stock.

Visa Profile

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Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).