Visa Inc. (NYSE:V) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of Visa Inc. (NYSE:V) by 60.6% during the third quarter, Holdings Channel.com reports. The firm owned 188,456 shares of the credit-card processor’s stock after selling 290,330 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Visa were worth $51,816,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of V. Peterson Financial Group Inc. acquired a new stake in Visa in the 3rd quarter valued at about $26,000. POM Investment Strategies LLC boosted its stake in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the period. Reston Wealth Management LLC acquired a new stake in Visa during the third quarter valued at $31,000. TruNorth Capital Management LLC lifted its holdings in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the last quarter. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Visa during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 price objective on shares of Visa in a report on Thursday, September 12th. Robert W. Baird lifted their price objective on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research note on Tuesday, September 3rd. Piper Sandler increased their price objective on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley boosted their price objective on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Visa Price Performance

Shares of V opened at $311.85 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $568.29 billion, a PE ratio of 32.05, a P/E/G ratio of 2.07 and a beta of 0.95. The stock has a 50 day simple moving average of $288.10 and a 200 day simple moving average of $276.63. Visa Inc. has a 52-week low of $245.60 and a 52-week high of $312.44.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the company posted $2.33 earnings per share. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Sell-side analysts predict that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

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

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

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.