Visa Inc. $V Shares Bought by Mattern Capital Management LLC

Mattern Capital Management LLC lifted its holdings in Visa Inc. (NYSE:V) by 2.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 24,580 shares of the credit-card processor’s stock after buying an additional 560 shares during the quarter. Mattern Capital Management LLC’s holdings in Visa were worth $8,727,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of V. Keystone Global Partners LLC acquired a new position in Visa during the 1st quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC bought a new stake in Visa in the second quarter valued at $28,000. von Borstel & Associates Inc. bought a new stake in Visa in the first quarter valued at $27,000. Cranbrook Wealth Management LLC boosted its holdings in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares during the period. Finally, Westend Capital Management LLC grew its position in shares of Visa by 83.1% during the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock worth $38,000 after acquiring an additional 49 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

V has been the topic of several analyst reports. UBS Group restated a “buy” rating and issued a $415.00 price target (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Truist Financial cut their target price on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Oppenheimer increased their price target on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $385.96.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were 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 of the company’s stock, valued at approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Visa Trading Up 1.1%

Shares of V stock opened at $349.90 on Monday. The stock has a 50-day simple moving average of $343.78 and a 200 day simple moving average of $346.81. The stock has a market capitalization of $641.28 billion, a P/E ratio of 34.17, a P/E/G ratio of 2.07 and a beta of 0.90. Visa Inc. has a fifty-two week low of $273.24 and a fifty-two 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 for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the prior year, the company earned $2.42 EPS. Visa’s revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s payout ratio is presently 23.05%.

About Visa

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.