Wealth Quarterback LLC Decreases Position in Visa Inc. (NYSE:V)

Wealth Quarterback LLC trimmed its stake in Visa Inc. (NYSE:V) by 7.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 777 shares of the credit-card processor’s stock after selling 62 shares during the period. Wealth Quarterback LLC’s holdings in Visa were worth $214,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. POM Investment Strategies LLC raised its position in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. Reston Wealth Management LLC bought a new stake in shares of Visa during the 3rd quarter worth approximately $31,000. TruNorth Capital Management LLC boosted its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the period. Bbjs Financial Advisors LLC bought a new position in Visa in the 2nd quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in Visa in the second quarter worth $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s 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 $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.19% of the company’s stock.

Visa Trading Up 0.7 %

Shares of NYSE:V opened at $307.87 on Friday. The business’s 50-day moving average is $283.95 and its 200 day moving average is $274.67. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. Visa Inc. has a 1 year low of $240.97 and a 1 year high of $311.15. The firm has a market capitalization of $561.03 billion, a P/E ratio of 31.64, a P/E/G ratio of 2.06 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.33 earnings per share. On average, research analysts predict that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s payout ratio is presently 21.38%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on V. Robert W. Baird boosted their target price on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group restated a “buy” rating and issued a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Mizuho increased their price objective on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Susquehanna lifted their target price on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $321.74.

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.