Pettyjohn Wood & White Inc. Sells 53 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jul 11th, 2023

Pettyjohn Wood & White Inc. trimmed its position in Visa Inc. (NYSE:V – Free Report) by 0.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,378 shares of the credit-card processor’s stock after selling 53 shares during the period. Pettyjohn Wood & White Inc.’s holdings in Visa were worth $1,438,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Keudell Morrison Wealth Management boosted its stake in Visa by 0.4% during the 1st quarter. Keudell Morrison Wealth Management now owns 11,761 shares of the credit-card processor’s stock worth $2,652,000 after purchasing an additional 43 shares during the last quarter. Successful Portfolios LLC boosted its stake in Visa by 3.6% during the 1st quarter. Successful Portfolios LLC now owns 1,232 shares of the credit-card processor’s stock worth $278,000 after purchasing an additional 43 shares during the last quarter. Auxano Advisors LLC raised its holdings in shares of Visa by 0.3% during the 4th quarter. Auxano Advisors LLC now owns 14,206 shares of the credit-card processor’s stock worth $2,951,000 after acquiring an additional 45 shares during the period. Wedge Capital Management L L P NC grew its holdings in shares of Visa by 1.6% in the first quarter. Wedge Capital Management L L P NC now owns 2,914 shares of the credit-card processor’s stock valued at $657,000 after purchasing an additional 45 shares during the period. Finally, Domani Wealth LLC grew its holdings in shares of Visa by 2.7% in the fourth quarter. Domani Wealth LLC now owns 1,729 shares of the credit-card processor’s stock valued at $359,000 after purchasing an additional 46 shares during the period. 84.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Visa in a report on Thursday, May 18th. They issued a “buy” rating for the company. 22nd Century Group reissued a “maintains” rating on shares of Visa in a report on Wednesday, April 26th. BMO Capital Markets upped their price objective on shares of Visa from $253.00 to $263.00 in a report on Wednesday, April 26th. Oppenheimer upped their price objective on shares of Visa from $237.00 to $248.00 and gave the company an “outperform” rating in a report on Wednesday, April 19th. Finally, Truist Financial upped their target price on shares of Visa from $260.00 to $270.00 in a research report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $262.52.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 24,025 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total transaction of $5,766,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Visa news, insider Tullier Kelly Mahon sold 54,146 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $232.55, for a total value of $12,591,652.30. Following the transaction, the insider now directly owns 26,674 shares in the company, valued at $6,203,038.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 24,025 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total transaction of $5,766,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 142,602 shares of company stock worth $33,336,374. Company insiders own 0.21% of the company’s stock.

Visa Stock Up 0.7 %

Shares of V opened at $238.14 on Tuesday. The stock has a market capitalization of $446.11 billion, a PE ratio of 31.84, a P/E/G ratio of 1.81 and a beta of 0.97. Visa Inc. has a 1 year low of $174.60 and a 1 year high of $240.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The company’s 50-day simple moving average is $229.20 and its 200-day simple moving average is $225.30.

Visa (NYSE:V – Get Free Report) last released its earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. Visa had a net margin of 50.95% and a return on equity of 50.21%. The firm had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.79 billion. During the same period in the prior year, the firm earned $1.79 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Analysts forecast that Visa Inc. will post 8.59 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s payout ratio is 24.06%.

About Visa

(Free Report)

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.