Manchester Financial Inc. Has $1.68 Million Holdings in Visa Inc. $V

Manchester Financial Inc. trimmed its holdings in shares of Visa Inc. (NYSE:V) by 31.3% in the third quarter, HoldingsChannel reports. The firm owned 4,930 shares of the credit-card processor’s stock after selling 2,248 shares during the period. Manchester Financial Inc.’s holdings in Visa were worth $1,683,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Visa by 0.9% in the second quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after buying an additional 1,461,575 shares during the last quarter. Geode Capital Management LLC increased its position in Visa by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after acquiring an additional 1,067,631 shares in the last quarter. Norges Bank acquired a new position in shares of Visa during the second quarter worth approximately $7,034,939,000. TCI Fund Management Ltd. lifted its position in shares of Visa by 14.6% during the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after purchasing an additional 2,429,996 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Visa by 7.2% in the first 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 in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the sale, the insider directly owned 26,413 shares in the company, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 24,042 shares of company stock valued at $8,175,152. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Bank of America raised Visa from a “neutral” rating to a “buy” rating and set a $382.00 price objective on the stock in a report on Thursday, December 11th. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Morgan Stanley set a $398.00 price target on Visa and gave the company an “overweight” rating in a report on Wednesday, October 29th. Macquarie dropped their price objective on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Visa presently has an average rating of “Buy” and a consensus price target of $402.52.

Visa Trading Up 0.4%

NYSE:V opened at $354.78 on Friday. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The business’s 50-day moving average price is $338.34 and its two-hundred day moving average price is $344.40. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $646.31 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 2.09 and a beta of 0.82.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The firm had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.71 earnings per share. On average, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were issued a dividend of $0.67 per share. This is an increase from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, November 12th. Visa’s dividend payout ratio is presently 26.25%.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.