Balboa Wealth Partners Sells 964 Shares of Visa Inc. (NYSE:V)

Balboa Wealth Partners trimmed its stake in Visa Inc. (NYSE:V) by 12.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,619 shares of the credit-card processor’s stock after selling 964 shares during the quarter. Balboa Wealth Partners’ holdings in Visa were worth $1,820,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Arjuna Capital raised its position in shares of Visa by 0.8% in the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after purchasing an additional 96 shares during the period. Custom Index Systems LLC bought a new stake in Visa during the 3rd quarter worth approximately $731,000. Mechanics Bank Trust Department increased its holdings in Visa by 8.0% during the 2nd quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock worth $8,520,000 after acquiring an additional 2,410 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in Visa by 46.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock worth $14,046,000 after acquiring an additional 16,078 shares during the period. Finally, Chicago Capital LLC increased its holdings in Visa by 5.2% during the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after acquiring an additional 20,023 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

V has been the subject of a number of recent analyst reports. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Mizuho lifted their target price on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. TD Cowen lifted their target price on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Bank of America lifted their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Stock Performance

NYSE V opened at $308.27 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a fifty day simple moving average of $285.84 and a 200 day simple moving average of $275.41. Visa Inc. has a twelve month low of $245.34 and a twelve month high of $312.44. The company has a market capitalization of $561.76 billion, a price-to-earnings ratio of 31.68, a PEG ratio of 2.07 and a beta of 0.95.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the business posted $2.33 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Sell-side analysts expect that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.77%. Visa’s payout ratio is currently 24.25%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This trade represents a 94.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

Visa 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.