Transcendent Capital Group LLC Trims Stake in Visa Inc. (NYSE:V)

Transcendent Capital Group LLC cut its stake in shares of Visa Inc. (NYSE:V) by 54.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 984 shares of the credit-card processor’s stock after selling 1,191 shares during the quarter. Transcendent Capital Group LLC’s holdings in Visa were worth $271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in Visa by 45,189.4% in the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after purchasing an additional 9,736,958 shares during the period. SG Americas Securities LLC increased its stake in shares of Visa by 4,412.3% in the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after buying an additional 4,166,905 shares during the period. National Bank of Canada FI raised its holdings in Visa by 787.1% during the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after buying an additional 4,099,122 shares during the last quarter. Swedbank AB bought a new stake in Visa in the 1st quarter worth $511,321,000. Finally, GQG Partners LLC increased its position in shares of Visa by 40.1% in the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after acquiring an additional 1,715,686 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of V opened at $307.87 on Friday. The stock has a market cap of $561.03 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. Visa Inc. has a 1-year low of $240.97 and a 1-year high of $311.15. The firm has a fifty day moving average price of $283.95 and a 200 day moving average price of $274.67. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37.

Visa (NYSE:V) last issued 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 net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the firm posted $2.33 EPS. Visa’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Visa Inc. will post 11.18 EPS for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio is 21.38%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on V. Macquarie boosted their target price on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Oppenheimer reaffirmed an “outperform” rating and set a $321.00 price objective (up from $318.00) on shares of Visa in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $321.74.

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.