OneAscent Wealth Management LLC Sells 330 Shares of Visa Inc. (NYSE:V)

OneAscent Wealth Management LLC decreased its position in Visa Inc. (NYSE:V) by 14.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,990 shares of the credit-card processor’s stock after selling 330 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Visa were worth $547,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in Visa during the third quarter valued at about $80,000. Capital City Trust Co. FL lifted its stake in shares of Visa by 1.6% in the 3rd quarter. Capital City Trust Co. FL now owns 25,438 shares of the credit-card processor’s stock valued at $6,994,000 after acquiring an additional 399 shares during the last quarter. Mendel Capital Management LLC boosted its holdings in Visa by 2.0% during the 3rd quarter. Mendel Capital Management LLC now owns 3,377 shares of the credit-card processor’s stock valued at $929,000 after acquiring an additional 67 shares during the period. Holistic Financial Partners boosted its holdings in Visa by 2.5% during the 3rd quarter. Holistic Financial Partners now owns 1,877 shares of the credit-card processor’s stock valued at $516,000 after acquiring an additional 46 shares during the period. Finally, Richard C. Young & CO. LTD. grew its position in Visa by 0.9% during the 3rd quarter. Richard C. Young & CO. LTD. now owns 87,828 shares of the credit-card processor’s stock worth $24,148,000 after acquiring an additional 820 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on V shares. Jefferies Financial Group raised their price target on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citigroup raised their target price on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and set a $321.00 price target (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. boosted their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $321.74.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Visa Price Performance

V traded up $1.06 on Monday, hitting $310.70. 601,781 shares of the company’s stock were exchanged, compared to its average volume of 6,965,079. The stock has a market cap of $566.19 billion, a price-to-earnings ratio of 31.82, a P/E/G ratio of 2.07 and a beta of 0.95. Visa Inc. has a fifty-two week low of $245.60 and a fifty-two week high of $312.44. The firm has a 50-day moving average price of $287.04 and a 200-day moving average price of $276.01. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (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 business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the previous year, the firm earned $2.33 EPS. The business’s revenue was up 11.7% on a year-over-year basis. As a group, equities analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The company 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 $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s payout ratio is presently 24.25%.

Visa Company 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.