Geneva Partners LLC Sells 81 Shares of Visa Inc. (NYSE:V)

Geneva Partners LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 3.2% in the 2nd quarter, Holdings Channel reports. The fund owned 2,458 shares of the credit-card processor’s stock after selling 81 shares during the period. Geneva Partners LLC’s holdings in Visa were worth $645,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nadler Financial Group Inc. raised its holdings in Visa by 2.4% in the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after buying an additional 44 shares during the last quarter. Andrew Hill Investment Advisors Inc. acquired a new position in shares of Visa during the fourth quarter worth $3,427,000. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Visa by 1.1% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 75,421 shares of the credit-card processor’s stock worth $19,636,000 after purchasing an additional 795 shares during the period. Hilltop National Bank bought a new stake in shares of Visa in the first quarter worth $1,212,000. Finally, TCI Wealth Advisors Inc. increased its holdings in Visa by 0.8% in the fourth quarter. TCI Wealth Advisors Inc. now owns 5,107 shares of the credit-card processor’s stock valued at $1,330,000 after purchasing an additional 40 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

V has been the topic of a number of analyst reports. Evercore ISI reduced their price target on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Wedbush upped their target price on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. raised their price target on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday. TD Cowen reduced their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Citigroup lowered their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $308.50.

Visa Stock Up 0.0 %

NYSE V traded up $0.10 during mid-day trading on Wednesday, hitting $268.15. The company’s stock had a trading volume of 6,639,302 shares, compared to its average volume of 7,217,395. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company’s 50 day simple moving average is $266.10 and its 200 day simple moving average is $273.43. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96. The firm has a market capitalization of $490.42 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 1.89 and a beta of 0.95.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.16 earnings per share. Analysts anticipate that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s payout ratio is currently 23.24%.

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.