McCarthy Asset Management Inc. Has $801,000 Stock Holdings in Visa Inc. (NYSE:V)

McCarthy Asset Management Inc. cut its holdings in shares of Visa Inc. (NYSE:V) by 9.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,914 shares of the credit-card processor’s stock after selling 289 shares during the period. Visa comprises approximately 0.5% of McCarthy Asset Management Inc.’s portfolio, making the stock its 19th largest position. McCarthy Asset Management Inc.’s holdings in Visa were worth $801,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in V. Peterson Financial Group Inc. acquired a new position in shares of Visa in the 3rd quarter worth approximately $26,000. POM Investment Strategies LLC lifted its position in shares of Visa by 970.0% in 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 during the period. Reston Wealth Management LLC bought a new stake in shares of Visa in the 3rd quarter valued at $31,000. TruNorth Capital Management LLC increased its stake in shares of Visa by 211.9% in 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. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Visa in the 2nd quarter valued at $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

V has been the subject of several research analyst reports. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research note on Tuesday, September 3rd. BMO Capital Markets boosted their price target on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. TD Cowen boosted their price target on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Macquarie boosted their price target on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $323.41.

Visa Stock Down 0.9 %

Shares of NYSE:V opened at $308.30 on Tuesday. The firm has a fifty day moving average price of $296.38 and a two-hundred day moving average price of $279.98. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $574.33 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 2.09 and a beta of 0.96. Visa Inc. has a one year low of $252.70 and a one year high of $317.42.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion for 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% on a year-over-year basis. During the same quarter last year, the company posted $2.33 EPS. Analysts anticipate that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is presently 24.25%.

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.