CORDA Investment Management LLC. Reduces Position in Visa Inc. (NYSE:V)

CORDA Investment Management LLC. cut its stake in shares of Visa Inc. (NYSE:V) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,568 shares of the credit-card processor’s stock after selling 232 shares during the quarter. CORDA Investment Management LLC.’s holdings in Visa were worth $1,531,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in V. Intact Investment Management Inc. boosted its holdings in Visa by 930.0% in the third quarter. Intact Investment Management Inc. now owns 10,300 shares of the credit-card processor’s stock valued at $2,832,000 after purchasing an additional 9,300 shares during the last quarter. Wheelhouse Advisory Group LLC purchased a new stake in Visa in the third quarter valued at $201,000. HS Management Partners LLC boosted its holdings in Visa by 57.9% in the third quarter. HS Management Partners LLC now owns 228,520 shares of the credit-card processor’s stock valued at $62,832,000 after purchasing an additional 83,754 shares during the last quarter. Roman Butler Fullerton & Co. boosted its holdings in Visa by 1.4% in the third quarter. Roman Butler Fullerton & Co. now owns 4,750 shares of the credit-card processor’s stock valued at $1,327,000 after purchasing an additional 67 shares during the last quarter. Finally, Citizens National Bank Trust Department boosted its holdings in Visa by 3.3% in the third quarter. Citizens National Bank Trust Department now owns 22,787 shares of the credit-card processor’s stock valued at $6,265,000 after purchasing an additional 736 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Up 0.4 %

V stock opened at $291.85 on Tuesday. The company has a market cap of $531.84 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 1.95 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12 month low of $240.97 and a 12 month high of $296.34. The firm has a 50-day moving average of $281.47 and a two-hundred day moving average of $273.80.

Visa (NYSE:V) last posted its quarterly 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. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the prior year, the company posted $2.33 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, analysts forecast that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. BMO Capital Markets upped their price target on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Jefferies Financial Group upped their price target on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research report on Tuesday, September 3rd. Oppenheimer reiterated an “outperform” rating and issued a $321.00 price objective (up previously from $318.00) on shares of Visa in a research report on Wednesday, October 30th. Finally, Bank of America upped their price objective on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $321.74.

Insider Activity

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

Visa Company 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.