Visa Inc. (NYSE:V) is Cumberland Partners Ltd’s 9th Largest Position

Cumberland Partners Ltd trimmed its stake in Visa Inc. (NYSE:V) by 1.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 151,902 shares of the credit-card processor’s stock after selling 2,735 shares during the period. Visa accounts for approximately 2.9% of Cumberland Partners Ltd’s portfolio, making the stock its 9th biggest position. Cumberland Partners Ltd’s holdings in Visa were worth $41,765,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. POM Investment Strategies LLC boosted its stake in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares in the last quarter. Reston Wealth Management LLC purchased a new position in shares of Visa in the third quarter valued at $31,000. TruNorth Capital Management LLC raised its position in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the last quarter. Abich Financial Wealth Management LLC increased its position in Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after buying an additional 46 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Visa in the second quarter valued at $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 0.2 %

Shares of NYSE:V opened at $309.82 on Wednesday. The firm has a 50 day simple moving average of $284.64 and a 200 day simple moving average of $274.92. The company has a market cap of $564.59 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. Visa Inc. has a 52 week low of $244.11 and a 52 week high of $312.44.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the previous year, the company earned $2.33 earnings per share. The company’s revenue was up 11.7% compared to the same quarter last year. As a group, research analysts expect that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s payout ratio is currently 21.38%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Susquehanna upped their price objective on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Morgan Stanley boosted their price objective on shares of Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. William Blair upgraded Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Barclays increased their price objective on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Macquarie boosted their price target on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.

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.