Pursue Wealth Partners LLC Sells 1,183 Shares of Visa Inc. (NYSE:V)

Pursue Wealth Partners LLC lowered its position in Visa Inc. (NYSE:V) by 56.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 918 shares of the credit-card processor’s stock after selling 1,183 shares during the period. Pursue Wealth Partners LLC’s holdings in Visa were worth $252,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jacobson & Schmitt Advisors LLC increased its stake in shares of Visa by 3.9% in the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 40,574 shares of the credit-card processor’s stock worth $11,156,000 after acquiring an additional 1,523 shares in the last quarter. Hartford Financial Management Inc. grew its holdings in Visa by 3.9% in the third quarter. Hartford Financial Management Inc. now owns 15,705 shares of the credit-card processor’s stock worth $4,318,000 after purchasing an additional 591 shares during the period. Principal Securities Inc. increased its stake in shares of Visa by 9.7% during the third quarter. Principal Securities Inc. now owns 65,300 shares of the credit-card processor’s stock valued at $17,954,000 after purchasing an additional 5,787 shares in the last quarter. Manitou Investment Management Ltd. lifted its holdings in shares of Visa by 4.0% during the third quarter. Manitou Investment Management Ltd. now owns 3,275 shares of the credit-card processor’s stock valued at $900,000 after purchasing an additional 127 shares during the last quarter. Finally, Norris Perne & French LLP MI boosted its position in shares of Visa by 1.1% in the 3rd quarter. Norris Perne & French LLP MI now owns 125,003 shares of the credit-card processor’s stock worth $34,370,000 after purchasing an additional 1,299 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on V. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Citigroup raised their price target on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a report on Wednesday. William Blair upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Morgan Stanley upped their target price on shares of Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $320.70.

Visa Trading Up 0.3 %

Shares of V opened at $290.74 on Friday. Visa Inc. has a 1 year low of $239.20 and a 1 year high of $296.34. The company has a 50 day simple moving average of $281.00 and a two-hundred day simple moving average of $273.63. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. The firm has a market cap of $529.82 billion, a P/E ratio of 29.88, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95.

Visa (NYSE:V) last posted its earnings results 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 company had revenue of $9.62 billion during 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%. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the company posted $2.33 earnings per share. On average, equities analysts expect that Visa Inc. will post 11.17 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s payout ratio is currently 21.38%.

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.