Archer Investment Corp Sells 149 Shares of Visa Inc. (NYSE:V)

Archer Investment Corp lessened its holdings in Visa Inc. (NYSE:V) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,974 shares of the credit-card processor’s stock after selling 149 shares during the quarter. Archer Investment Corp’s holdings in Visa were worth $1,367,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in V. Vanguard Group Inc. raised its holdings in Visa by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after purchasing an additional 788,908 shares during the last quarter. Capital International Investors grew its position in shares of Visa by 2.7% during the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after buying an additional 626,618 shares during the period. Capital World Investors grew its position in shares of Visa by 5.4% during the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after buying an additional 968,008 shares during the period. Ameriprise Financial Inc. grew its position in shares of Visa by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after buying an additional 345,829 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Visa by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after buying an additional 312,286 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.0 %

V stock traded down $0.06 during midday trading on Friday, hitting $308.19. The company had a trading volume of 551,486 shares, compared to its average volume of 6,974,068. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. Visa Inc. has a 52 week low of $245.60 and a 52 week high of $312.44. The stock’s 50 day moving average price is $286.44 and its 200 day moving average price is $275.64. The stock has a market cap of $561.62 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 2.07 and a beta of 0.95.

Visa (NYSE:V) last announced its 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. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 earnings per share. As a group, equities research analysts expect that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on V. Jefferies Financial Group raised their price objective on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citigroup lifted their price target on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Macquarie lifted their price target on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler lifted their price target on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Barclays lifted their price target on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Four equities 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 company’s stock. According to MarketBeat.com, the stock has a consensus 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 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by corporate insiders.

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.