Hollow Brook Wealth Management LLC Sells 85 Shares of Visa Inc. (NYSE:V)

Hollow Brook Wealth Management LLC lessened its holdings in shares of Visa Inc. (NYSE:V) by 10.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 766 shares of the credit-card processor’s stock after selling 85 shares during the period. Hollow Brook Wealth Management LLC’s holdings in Visa were worth $211,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank & Trust Co bought a new position in shares of Visa during the 2nd quarter worth approximately $89,000. Eastover Investment Advisors LLC lifted its position in Visa by 2.4% during the 2nd quarter. Eastover Investment Advisors LLC now owns 21,442 shares of the credit-card processor’s stock worth $5,751,000 after buying an additional 511 shares in the last quarter. Value Partners Investments Inc. boosted its stake in shares of Visa by 565.8% during the 2nd quarter. Value Partners Investments Inc. now owns 71,618 shares of the credit-card processor’s stock worth $18,798,000 after buying an additional 60,862 shares during the last quarter. Kingswood Wealth Advisors LLC grew its holdings in shares of Visa by 7.6% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 27,525 shares of the credit-card processor’s stock valued at $7,225,000 after acquiring an additional 1,942 shares in the last quarter. Finally, Astoria Portfolio Advisors LLC. increased its position in shares of Visa by 3.9% in the second quarter. Astoria Portfolio Advisors LLC. now owns 4,893 shares of the credit-card processor’s stock valued at $1,284,000 after acquiring an additional 183 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

Visa stock opened at $315.90 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a market cap of $588.48 billion, a PE ratio of 32.38, a P/E/G ratio of 2.12 and a beta of 0.95. Visa Inc. has a 12-month low of $252.14 and a 12-month high of $316.37. The business’s 50-day moving average price is $292.09 and its two-hundred day moving average price is $278.55.

Visa (NYSE:V) last announced its quarterly earnings results 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 company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.33 EPS. As a group, analysts expect that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio is presently 24.25%.

Analyst Ratings Changes

Several brokerages recently commented on V. Mizuho increased their price target on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Barclays increased their price objective on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Susquehanna upped their price target on shares of Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $321.74.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

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.