Visa Inc. $V Shares Sold by Northeast Investment Management

Northeast Investment Management lessened its holdings in Visa Inc. (NYSE:V) by 0.9% during the third quarter, Holdings Channel reports. The fund owned 235,610 shares of the credit-card processor’s stock after selling 2,206 shares during the period. Visa makes up 3.0% of Northeast Investment Management’s holdings, making the stock its 6th largest holding. Northeast Investment Management’s holdings in Visa were worth $84,662,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in V. Bank Pictet & Cie Europe AG grew its holdings in Visa by 0.9% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 606,500 shares of the credit-card processor’s stock valued at $217,934,000 after buying an additional 5,568 shares in the last quarter. CFC Planning Co LLC increased its position in Visa by 13.7% during the 3rd quarter. CFC Planning Co LLC now owns 13,305 shares of the credit-card processor’s stock worth $4,781,000 after buying an additional 1,607 shares during the period. Vega Investment Solutions bought a new position in Visa during the 2nd quarter worth $829,000. Brooklands Fund Management Ltd bought a new position in Visa during the 3rd quarter worth $5,291,000. Finally, Beacon Financial Group lifted its holdings in shares of Visa by 83.9% during the first quarter. Beacon Financial Group now owns 22,501 shares of the credit-card processor’s stock worth $6,801,000 after buying an additional 10,267 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 3.8%

Shares of NYSE:V opened at $436.21 on Thursday. The company has a market capitalization of $778.39 billion, a P/E ratio of 35.38, a P/E/G ratio of 1.79 and a beta of 0.80. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $436.76. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.97 and a quick ratio of 0.99. The business’s 50 day simple moving average is $384.21 and its 200 day simple moving average is $343.74.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 27th. The credit-card processor reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.04. The firm had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.09 billion. Visa had a return on equity of 70.50% and a net margin of 51.20%. The company’s revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the company earned $2.98 EPS. On average, research analysts anticipate that Visa Inc. will post 15.02 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 10th will be issued a dividend of $0.78 per share. This is an increase from Visa’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $3.12 annualized dividend and a dividend yield of 0.7%. Visa’s payout ratio is currently 25.30%.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 5,875 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $416.22, for a total value of $2,445,292.50. Following the transaction, the chief executive officer owned 15,174 shares in the company, valued at approximately $6,315,722.28. This trade represents a 27.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie Rottenberg sold 1,867 shares of the firm’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $368.34, for a total value of $687,690.78. Following the completion of the transaction, the general counsel owned 18,404 shares in the company, valued at $6,778,929.36. The trade was a 9.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 27,395 shares of company stock worth $10,406,050. 0.12% of the stock is currently owned by insiders.

Analysts Set New Price Targets

V has been the subject of a number of recent research reports. Susquehanna set a $480.00 target price on shares of Visa and gave the company a “positive” rating in a research report on Monday, October 26th. Morgan Stanley restated an “overweight” rating and issued a $471.00 price target (up from $416.00) on shares of Visa in a research note on Wednesday, October 28th. Clear Str raised shares of Visa to a “strong-buy” rating in a research report on Thursday, July 16th. Wolfe Research reaffirmed an “outperform” rating and set a $460.00 price target (up from $435.00) on shares of Visa in a research report on Tuesday, August 25th. Finally, TD Cowen reiterated a “buy” rating and issued a $450.00 price objective (up from $420.00) on shares of Visa in a research note on Wednesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating and thirty-five have given a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $440.03.

Key Stories Impacting Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Verifone has deployed Visa’s Featurespace fraud-screening technology across its payment gateways. The system assesses transactions in real time across in-store, online and mobile channels, giving Visa another opportunity to expand its fraud-prevention services; the announcements did not disclose the financial size of the deal. Article: Verifone Turns to Visa’s Featurespace to Combat Fraud
• Positive Sentiment: Visa raised its quarterly dividend from $0.67 to $0.78 per share, an increase of more than 16%. The hike signals confidence in cash generation and adds to shareholder returns, although the yield is still relatively low. Article: Visa Just Hiked Its Dividend
• Positive Sentiment: Visa’s latest reported quarter beat analyst expectations for earnings and revenue, with revenue up 13.2% year over year. That performance offers support for the growth outlook behind the dividend increase. Article: Will Earnings Beat Change Visa Stock’s Narrative
• Neutral Sentiment: Former Visa chairman and CEO Joseph Saunders, who led the company through its IPO, has died. The report is a tribute to his legacy and does not indicate an effect on Visa’s current operations. Article: Former Visa CEO Joseph Saunders Dies
• Negative Sentiment: A recent article cautioned investors about buying after Visa’s strong share-price run, noting the relatively low dividend yield. Separately, CEO Ryan McInerney sold 5,875 shares; the transaction was made under a pre-arranged trading plan, which tempers its significance as an outlook signal. Article: Visa Just Hiked Its Dividend Visa insider-trading report

Visa Profile

Visa Inc (NYSE: V) is a global payments technology company that facilitates electronic payments between consumers, businesses, financial institutions and governments. Through its VisaNet network, the company authorizes, clears and settles transactions made with Visa-branded credit, debit and prepaid cards, while generally not issuing cards, extending credit or setting cardholder account terms.

Visa provides payment products and services for consumer, commercial and government payments, as well as digital commerce and money movement.