McCollum Christoferson Group LLC Trims Holdings in Visa Inc. (NYSE:V)

McCollum Christoferson Group LLC reduced its position in shares of Visa Inc. (NYSE:V) by 0.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 39,685 shares of the credit-card processor’s stock after selling 184 shares during the quarter. Visa accounts for about 3.2% of McCollum Christoferson Group LLC’s holdings, making the stock its 10th biggest position. McCollum Christoferson Group LLC’s holdings in Visa were worth $10,911,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tamar Securities LLC lifted its stake in shares of Visa by 51.1% in the third quarter. Tamar Securities LLC now owns 59,815 shares of the credit-card processor’s stock worth $16,446,000 after acquiring an additional 20,225 shares during the period. FLC Capital Advisors lifted its stake in Visa by 3.5% in the third quarter. FLC Capital Advisors now owns 2,924 shares of the credit-card processor’s stock valued at $804,000 after buying an additional 100 shares during the period. Culbertson A N & Co. Inc. lifted its stake in Visa by 2.1% in the third quarter. Culbertson A N & Co. Inc. now owns 21,467 shares of the credit-card processor’s stock valued at $5,902,000 after buying an additional 450 shares during the period. Rheos Capital Works Inc. lifted its stake in Visa by 31.4% in the third quarter. Rheos Capital Works Inc. now owns 200,000 shares of the credit-card processor’s stock valued at $54,990,000 after buying an additional 47,800 shares during the period. Finally, Alliance Wealth Advisors LLC lifted its stake in Visa by 3.6% in the third quarter. Alliance Wealth Advisors LLC now owns 1,121 shares of the credit-card processor’s stock valued at $308,000 after buying an additional 39 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on V shares. Morgan Stanley reissued an “overweight” rating and issued a $322.00 price target on shares of Visa in a research note on Wednesday, September 25th. Royal Bank of Canada lowered their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Macquarie reaffirmed an “outperform” rating and set a $300.00 target price on shares of Visa in a research report on Friday, September 27th. Oppenheimer assumed coverage on Visa in a research report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 target price on the stock. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $313.81.

Visa Stock Up 2.9 %

Shares of NYSE V opened at $287.51 on Thursday. Visa Inc. has a one year low of $228.03 and a one year high of $293.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The business’s fifty day moving average price is $275.69 and its 200-day moving average price is $272.74. The stock has a market capitalization of $525.83 billion, a PE ratio of 32.12, a P/E/G ratio of 1.94 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the prior year, the firm earned $2.16 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities research analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.72%. Visa’s dividend payout ratio (DPR) is 23.24%.

Insider Buying and Selling

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

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.