Corbyn Investment Management Inc. MD Sells 354 Shares of Visa Inc. (NYSE:V)

Corbyn Investment Management Inc. MD reduced its position in Visa Inc. (NYSE:V) by 2.4% during the second quarter, Holdings Channel reports. The institutional investor owned 14,446 shares of the credit-card processor’s stock after selling 354 shares during the quarter. Visa comprises 1.6% of Corbyn Investment Management Inc. MD’s investment portfolio, making the stock its 22nd largest holding. Corbyn Investment Management Inc. MD’s holdings in Visa were worth $3,792,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Visa by 0.6% in 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 in the last quarter. Capital International Investors boosted its stake in Visa by 2.7% in 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 purchasing an additional 626,618 shares in the last quarter. Capital World Investors boosted its stake in Visa by 5.4% in 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 purchasing an additional 968,008 shares in the last quarter. Norges Bank acquired a new stake in Visa in the 4th quarter worth approximately $3,895,015,000. Finally, Fisher Asset Management LLC boosted its stake in Visa by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 8,900,179 shares of the credit-card processor’s stock worth $2,317,162,000 after purchasing an additional 166,767 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

Visa stock opened at $279.37 on Friday. The firm has a 50 day simple moving average of $266.53 and a 200-day simple moving average of $273.13. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market cap of $509.10 billion, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 1.98 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the prior year, the company posted $2.16 EPS. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts expect that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.74%. Visa’s dividend payout ratio (DPR) is 23.24%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on V. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research note on Tuesday, September 3rd. TD Cowen decreased their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. William Blair upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $309.54.

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.