Corundum Group Inc. Decreases Stock Position in Visa Inc. (NYSE:V)

Corundum Group Inc. cut its stake in shares of Visa Inc. (NYSE:V) by 32.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,606 shares of the credit-card processor’s stock after selling 2,228 shares during the quarter. Corundum Group Inc.’s holdings in Visa were worth $1,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of V. Westend Capital Management LLC bought a new position in shares of Visa during the first quarter valued at about $25,000. POM Investment Strategies LLC lifted its holdings in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the period. TruNorth Capital Management LLC lifted its holdings in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares during the period. Bbjs Financial Advisors LLC bought a new stake in shares of Visa in the 2nd quarter worth approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Visa during the second quarter valued at approximately $35,000. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on V shares. Robert W. Baird raised their price objective on shares of Visa from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price objective on shares of Visa in a report on Thursday, September 12th. Jefferies Financial Group dropped their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Evercore ISI decreased their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $314.19.

Visa Trading Up 0.1 %

Shares of V stock opened at $290.62 on Monday. The stock has a market capitalization of $531.53 billion, a P/E ratio of 32.47, a P/E/G ratio of 2.00 and a beta of 0.96. 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 firm’s 50 day moving average is $276.91 and its 200 day moving average is $272.88. 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. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the previous year, the company posted $2.16 earnings per share. Visa’s revenue was up 9.6% compared to the same quarter last year. Research 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. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is currently owned by insiders.

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.