Forvis Mazars Wealth Advisors LLC has decreased its stake in Visa Inc. (NYSE: V) by 16.7% during the third quarter of 2023, according to a report from HoldingsChannel.com. The firm now holds 8,483 shares of the credit-card processing giant after selling 1,697 shares during this period. As of the end of the last reporting period, Forvis Mazars’s holdings in Visa were valued at approximately $2,896,000.
Several other institutional investors have also made adjustments to their positions in Visa. Harbor Asset Planning Inc. acquired a new position in the company during the second quarter, valued at around $29,000. Sagard Holdings Management Inc. similarly purchased shares worth $31,000. Cranbrook Wealth Management LLC increased its holdings by an impressive 82.0%, acquiring 41 additional shares to total 91 shares valued at $32,000. Bare Financial Services Inc. ramped up its investment in Visa by 287.0%, now owning a total of 89 shares worth $32,000. Hoese & Co LLP also entered the fray with a new stake valued at $36,000. Collectively, institutional investors own 82.15% of Visa’s stock.
Visa’s Financial Snapshot
As of the recent trading session on Thursday, Visa’s stock opened at $325.71. The company boasts a market capitalization of $593.36 billion, with a price-to-earnings (P/E) ratio of 31.90 and a P/E growth (P/E/G) ratio of 1.92. Visa’s stock has exhibited volatility, with a fifty-day moving average of $338.77 and a 200-day moving average of $342.83. The shares have fluctuated within a 52-week range of $299.00 to $375.51. Furthermore, Visa’s financial health is indicated by a debt-to-equity ratio of 0.53 and both quick and current ratios of 1.08.
In a positive development for shareholders, Visa recently declared a quarterly dividend of $0.67 per share, which was paid on December 1, 2023, to investors on record as of November 12, 2023. This marks an increase from the previous quarterly dividend of $0.59, resulting in an annualized dividend of $2.68 and a yield of 0.8%. Visa’s dividend payout ratio currently stands at 26.25%.
Market Analysts Weigh In
Recent insights from Wall Street analysts suggest a positive outlook for Visa. Notably, Robert W. Baird has set a target price of $425.00 for the stock, while Morgan Stanley has assigned a price objective of $398.00 and an “overweight” rating. Citigroup has elevated Visa to a “strong-buy” rating, and KeyCorp has reaffirmed an “overweight” rating with a target price of $405.00. In total, four analysts have rated Visa with a “Strong Buy,” nineteen have rated it as a “Buy,” and four have given it a “Hold” rating. The average rating across analysts is “Buy,” with a consensus target price of $401.52 according to MarketBeat.
In insider trading developments, CEO Ryan Mcinerney sold 10,485 shares of Visa on January 2, 2023, for a total value of $3,661,152.30, reducing his ownership by 52.73%. Following this transaction, he retained 9,401 shares valued at $3,282,641.18. Additionally, insider Paul D. Fabara sold 2,172 shares on November 21, 2023, for approximately $707,919.96. Following this sale, he holds 26,413 shares valued at $8,608,789.09. Over the last 90 days, insiders collectively sold 24,042 shares worth $8,247,289, and currently, 0.12% of the stock is owned by insiders.
Visa Inc. is a global payments technology company that enables electronic funds transfers and digital commerce. The company operates one of the largest payment networks worldwide, providing essential services for various card transactions. Its extensive portfolio includes a range of card-based payment products, real-time payment solutions, fraud management tools, and data analytics, among others.
For more insights into Visa and its shareholders, HoldingsChannel.com provides updates on institutional investments and insider trades related to Visa Inc. (NYSE: V).