Forvis Mazars Wealth Advisors LLC has reduced its stake in Visa Inc. by 16.7% during the third quarter of 2023. The firm now holds 8,483 shares of the credit card processor’s stock after selling 1,697 shares in that period. As of the latest reporting, Forvis Mazars’s holdings in Visa are valued at approximately $2.9 million.
A trend among institutional investors is evident, as several hedge funds have made adjustments to their Visa positions. For instance, Harbor Asset Planning Inc. acquired a new stake valued at around $29,000, while Sagard Holdings Management Inc. purchased shares worth approximately $31,000. Cranbrook Wealth Management LLC significantly increased its position by 82.0%, now owning 91 shares valued at $32,000 after acquiring an additional 41 shares. Similarly, Bare Financial Services Inc. saw a dramatic increase of 287.0%, bringing its total to 89 shares worth $32,000 after purchasing an additional 66 shares. Hoese & Co LLP also joined the ranks of investors acquiring new stakes in Visa, with an investment of approximately $36,000. Overall, institutional investors control 82.15% of Visa’s stock.
Visa’s Performance and Dividend Increase
Visa stock opened at $325.71 on Thursday, with a market capitalization of $593.36 billion. The company has a price-to-earnings (P/E) ratio of 31.90 and a price-to-earnings growth (P/E/G) ratio of 1.92, indicating strong performance metrics. Visa’s recent financials show a fifty-day moving average of $338.77 and a 200-day moving average of $342.83. The stock has fluctuated within a 52-week range, hitting a low of $299.00 and a high of $375.51. Visa maintains a debt-to-equity ratio of 0.53 and both a quick and current ratio of 1.08.
Recently, Visa announced an increase in its quarterly dividend, which was paid on December 1, 2023. Shareholders recorded on November 12, 2023, received a dividend of $0.67 per share, translating to an annualized dividend of $2.68 and a yield of 0.8%. This marks a positive change from the previous quarterly dividend of $0.59. The company’s dividend payout ratio stands at 26.25%.
Analyst Ratings and Insider Transactions
Recent evaluations by equity analysts reflect optimism regarding Visa’s future. Analysts from Robert W. Baird set a target price of $425.00 for Visa shares, while Morgan Stanley placed a price objective of $398.00 and rated the stock as “overweight.” Citigroup upgraded Visa to a “strong-buy” rating, and KeyCorp reiterated an “overweight” rating with a target price of $405.00. Currently, MarketBeat reports that four analysts have rated Visa with a “Strong Buy,” nineteen have given a “Buy,” and four have assigned a “Hold” rating. The consensus target price stands at approximately $401.52.
Regarding insider trading, CEO Ryan McInerney sold 10,485 shares of Visa on January 2, 2023, at an average price of $349.18, totaling over $3.66 million. Following the sale, he retains 9,401 shares valued at approximately $3.28 million. Additionally, insider Paul D. Fabara sold 2,172 shares on November 21, 2023, for a transaction valued at nearly $707,920. Over the past 90 days, insiders have offloaded a total of 24,042 shares of Visa, amounting to approximately $8.25 million. Currently, insiders own 0.12% of Visa’s stock.
Visa Inc. is a leading global payments technology company, facilitating electronic funds transfers and digital commerce. The firm operates one of the world’s largest payment networks, providing essential services for credit, debit, and prepaid card transactions. Its comprehensive portfolio includes card-based payment products, real-time push payment capabilities, and advanced fraud management tools.
For more details about Visa’s performance and the latest investment trends, visit HoldingsChannel.com for the most recent 13F filings and insider trading updates.
