Campbell Newman Asset Management Inc. Lowers Holdings in Visa Inc. $V

Campbell Newman Asset Management Inc. lowered its stake in shares of Visa Inc. (NYSE:V) by 3.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 123,797 shares of the credit-card processor’s stock after selling 4,253 shares during the period. Visa makes up approximately 3.5% of Campbell Newman Asset Management Inc.’s holdings, making the stock its 6th biggest position. Campbell Newman Asset Management Inc.’s holdings in Visa were worth $43,954,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in V. Keystone Global Partners LLC bought a new position in shares of Visa in the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. bought a new position in shares of Visa in the 1st quarter worth approximately $27,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa in the 2nd quarter worth approximately $28,000. Cranbrook Wealth Management LLC lifted its stake in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares during the period. Finally, 1 North Wealth Services LLC bought a new position in shares of Visa in the 1st quarter worth approximately $38,000. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on V shares. Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Truist Financial reduced their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Macquarie increased their price objective on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Finally, Raymond James Financial reissued an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $385.96.

Visa Stock Down 0.5%

Shares of V opened at $345.97 on Friday. The company has a market cap of $634.09 billion, a PE ratio of 33.79, a P/E/G ratio of 2.06 and a beta of 0.90. The business has a fifty day moving average of $343.92 and a 200 day moving average of $346.60. Visa Inc. has a 52-week low of $273.24 and a 52-week high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa’s revenue was up 14.3% on a year-over-year basis. During the same period last year, the company earned $2.42 earnings per share. On average, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is 23.05%.

Visa 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.