Rockefeller Capital Management L.P. Has $323.60 Million Position in Visa Inc. (NYSE:V)

Rockefeller Capital Management L.P. decreased its holdings in shares of Visa Inc. (NYSE:V) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,176,889 shares of the credit-card processor’s stock after selling 8,219 shares during the period. Visa comprises approximately 0.9% of Rockefeller Capital Management L.P.’s holdings, making the stock its 15th largest position. Rockefeller Capital Management L.P.’s holdings in Visa were worth $323,601,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. International Assets Investment Management LLC raised its holdings in shares of Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after purchasing an additional 9,736,958 shares during the last quarter. SG Americas Securities LLC grew its position in Visa by 4,412.3% in the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after purchasing an additional 4,166,905 shares in the last quarter. FMR LLC increased its stake in Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after buying an additional 3,265,518 shares during the last quarter. Wulff Hansen & CO. lifted its position in shares of Visa by 26,951.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after buying an additional 1,582,074 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Visa in the 3rd quarter worth approximately $268,640,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Up 0.9 %

Shares of NYSE V opened at $314.70 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average of $291.48 and a 200-day moving average of $278.31. The firm has a market capitalization of $586.25 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 2.11 and a beta of 0.95. Visa Inc. has a 12 month low of $251.61 and a 12 month high of $316.37.

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

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 yield of 0.75%. The ex-dividend date of this dividend is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.

Insider Buying and Selling at Visa

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

Analyst Ratings Changes

A number of brokerages recently commented on V. Royal Bank of Canada lifted their price target on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays boosted their target price on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

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.