Commonwealth Equity Services LLC Decreases Holdings in Visa Inc. (NYSE:V)

Commonwealth Equity Services LLC lowered its position in Visa Inc. (NYSE:V) by 5.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 806,928 shares of the credit-card processor’s stock after selling 45,426 shares during the period. Commonwealth Equity Services LLC’s holdings in Visa were worth $221,865,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Westend Capital Management LLC acquired a new position in Visa during the first quarter worth about $25,000. POM Investment Strategies LLC increased its stake in shares of Visa by 970.0% during 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 in the last quarter. TruNorth Capital Management LLC increased its stake in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC acquired a new position in shares of Visa during the 2nd quarter worth approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in Visa in the 2nd quarter valued at approximately $35,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

V has been the subject of several recent research reports. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Royal Bank of Canada dropped their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Macquarie restated an “outperform” rating and issued a $300.00 target price on shares of Visa in a report on Friday, September 27th. Citigroup decreased their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group cut their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $314.19.

Visa Trading Up 0.1 %

Shares of V stock opened at $290.62 on Friday. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07. The firm’s 50 day moving average price is $276.91 and its two-hundred day moving average price is $272.91. The stock has a market cap of $531.53 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 1.94 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 posted its 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 for the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the previous year, the business posted $2.16 EPS. The business’s quarterly revenue was up 9.6% on a year-over-year basis. On average, analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.72%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

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.