Gateway Investment Advisers LLC Sells 1,419 Shares of Visa Inc. (NYSE:V)

Gateway Investment Advisers LLC lessened its stake in shares of Visa Inc. (NYSE:V) by 0.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 464,955 shares of the credit-card processor’s stock after selling 1,419 shares during the period. Visa comprises approximately 1.4% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 12th biggest holding. Gateway Investment Advisers LLC’s holdings in Visa were worth $127,839,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Livelsberger Financial Advisory bought a new stake in Visa during the fourth quarter valued at about $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa during the first quarter worth about $25,000. POM Investment Strategies LLC grew its holdings in shares of Visa by 970.0% during 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 during the last quarter. TruNorth Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 89 shares during the period. Finally, Bbjs Financial Advisors LLC purchased a new position in Visa during the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on V. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Compass Point assumed coverage on shares of Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective for the company. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Citigroup cut their price target on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Macquarie reissued an “outperform” rating and issued a $300.00 price objective on shares of Visa in a report on Friday, September 27th. Six research 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $312.04.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred 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 sale, the chief executive officer now owns 538 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Visa Trading Up 0.1 %

NYSE:V traded up $0.37 during trading hours on Friday, hitting $277.84. The company had a trading volume of 4,746,446 shares, compared to its average volume of 7,363,829. The company has a 50-day moving average of $274.16 and a 200 day moving average of $272.72. 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 has a market cap of $506.31 billion, a P/E ratio of 29.72, a P/E/G ratio of 1.92 and a beta of 0.96. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.16 earnings per share. Sell-side analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is presently 22.25%.

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.