Coerente Capital Management Sells 231 Shares of Visa Inc. $V

Coerente Capital Management trimmed its position in Visa Inc. (NYSE:V) by 0.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 75,179 shares of the credit-card processor’s stock after selling 231 shares during the period. Visa accounts for about 4.9% of Coerente Capital Management’s portfolio, making the stock its 8th largest position. Coerente Capital Management’s holdings in Visa were worth $26,692,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Visa by 14.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock valued at $159,523,000 after purchasing an additional 57,800 shares during the last quarter. Precedent Wealth Partners LLC boosted its holdings in Visa by 7.5% in the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock valued at $564,000 after purchasing an additional 111 shares during the last quarter. Consilium Wealth Advisory LLC acquired a new position in Visa in the 2nd quarter valued at about $862,000. Iron Gate Global Advisors LLC boosted its holdings in Visa by 5.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock valued at $22,040,000 after purchasing an additional 3,484 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after purchasing an additional 955,392 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Down 0.2%

Shares of NYSE:V opened at $343.05 on Tuesday. The stock has a market cap of $628.73 billion, a P/E ratio of 33.50, a P/E/G ratio of 2.03 and a beta of 0.90. The firm has a fifty day moving average price of $343.79 and a 200 day moving average price of $346.97. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1-year low of $277.99 and a 1-year high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.42 EPS. Sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is presently 23.05%.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on V shares. UBS Group reiterated a “buy” rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Morgan Stanley increased their price objective on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, Oppenheimer upped their target price on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $389.00.

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.