Visa Inc. (NYSE:V) Shares Sold by Cary Street Partners Asset Management LLC

Cary Street Partners Asset Management LLC reduced its position in Visa Inc. (NYSE:V) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,848 shares of the credit-card processor’s stock after selling 126 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in Visa were worth $783,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Hilltop National Bank purchased a new position in Visa in the first quarter worth $1,212,000. Davidson Capital Management Inc. increased its position in shares of Visa by 0.5% in the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after buying an additional 44 shares in the last quarter. Empirical Finance LLC increased its position in shares of Visa by 4.4% in the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after buying an additional 1,914 shares in the last quarter. Arjuna Capital increased its position in shares of Visa by 0.8% in the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after buying an additional 96 shares in the last quarter. Finally, Custom Index Systems LLC purchased a new position in shares of Visa in the third quarter valued at $731,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of NYSE:V opened at $293.36 on Wednesday. The company has a market cap of $534.59 billion, a P/E ratio of 30.15, a PEG ratio of 1.96 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 one year low of $240.97 and a one year high of $296.34. The business’s 50-day simple moving average is $281.92 and its 200 day simple moving average is $273.97.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the previous year, the business earned $2.33 EPS. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, sell-side analysts forecast that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.80%. Visa’s payout ratio is currently 21.38%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on V. BMO Capital Markets raised their price target on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Citigroup raised their price target on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their price objective on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, Macquarie increased their price objective on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $321.74.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was 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. Company insiders own 0.19% of the company’s stock.

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.