Condor Capital Management Sells 932 Shares of Visa Inc. (NYSE:V)

Condor Capital Management decreased its position in shares of Visa Inc. (NYSE:V) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,305 shares of the credit-card processor’s stock after selling 932 shares during the quarter. Condor Capital Management’s holdings in Visa were worth $6,642,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Livelsberger Financial Advisory acquired a new position in Visa in the fourth quarter valued at $25,000. Westend Capital Management LLC acquired a new position in shares of Visa during the first quarter worth approximately $25,000. POM Investment Strategies LLC grew its holdings in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in Visa during the 4th quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC lifted its stake 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 in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was 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 of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on V. Morgan Stanley reduced their price objective on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Evercore ISI reduced their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group dropped their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Compass Point began coverage on shares of Visa in a research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $309.81.

Visa Stock Up 0.7 %

Shares of NYSE V opened at $287.36 on Friday. The company’s 50-day simple moving average is $268.29 and its 200-day simple moving average is $273.31. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $290.96. The firm has a market cap of $523.66 billion, a price-to-earnings ratio of 32.11, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

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

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.72%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

About Visa

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.