Whitaker Myers Wealth Managers LTD. Lowers Stock Holdings in Visa Inc. (NYSE:V)

Whitaker Myers Wealth Managers LTD. cut its holdings in Visa Inc. (NYSE:V) by 45.7% in the third quarter, Holdings Channel reports. The institutional investor owned 754 shares of the credit-card processor’s stock after selling 634 shares during the quarter. Whitaker Myers Wealth Managers LTD.’s holdings in Visa were worth $207,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in V. AA Financial Advisors LLC raised its position in Visa by 1.9% during the third quarter. AA Financial Advisors LLC now owns 5,023 shares of the credit-card processor’s stock worth $1,381,000 after acquiring an additional 94 shares during the period. Chicago Capital LLC raised its position in shares of Visa by 5.2% during the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after purchasing an additional 20,023 shares during the last quarter. Etesian Wealth Advisors Inc. lifted its stake in Visa by 2.8% in the 3rd quarter. Etesian Wealth Advisors Inc. now owns 5,677 shares of the credit-card processor’s stock valued at $1,561,000 after buying an additional 154 shares in the last quarter. TriaGen Wealth Management LLC lifted its stake in Visa by 0.6% in the 3rd quarter. TriaGen Wealth Management LLC now owns 6,605 shares of the credit-card processor’s stock valued at $1,816,000 after buying an additional 39 shares in the last quarter. Finally, Cahaba Wealth Management Inc. increased its stake in Visa by 13.5% during the 3rd quarter. Cahaba Wealth Management Inc. now owns 2,685 shares of the credit-card processor’s stock worth $738,000 after buying an additional 319 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 0.1 %

NYSE V opened at $290.62 on Friday. 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 stock has a market capitalization of $531.53 billion, a P/E ratio of 32.47, a PEG ratio of 1.94 and a beta of 0.96. The firm’s 50-day moving average is $276.91 and its two-hundred day moving average is $272.91. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07.

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

Visa Announces Dividend

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

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was 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 $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on V. Evercore ISI decreased their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Citigroup dropped their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada lowered their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $314.19.

About Visa

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.