EverSource Wealth Advisors LLC Cuts Stake in Visa Inc. (NYSE:V)

EverSource Wealth Advisors LLC lessened its holdings in shares of Visa Inc. (NYSE:V) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,300 shares of the credit-card processor’s stock after selling 330 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Visa were worth $4,207,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Capital International Investors boosted its stake in Visa by 2.7% during the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after buying an additional 626,618 shares during the last quarter. Capital World Investors grew its holdings in shares of Visa by 5.4% in the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after purchasing an additional 968,008 shares in the last quarter. Ameriprise Financial Inc. increased its position in Visa by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after purchasing an additional 345,829 shares during the last quarter. Legal & General Group Plc lifted its position in Visa by 2.2% during the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after purchasing an additional 312,286 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of 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 buying an additional 9,736,958 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on V shares. Barclays increased their price target on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Royal Bank of Canada lifted their target price on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a report on Tuesday, September 3rd. Mizuho lifted their price objective on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets increased their target price on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Visa Stock Down 0.7 %

NYSE:V traded down $2.05 during mid-day trading on Wednesday, hitting $309.80. 678,668 shares of the company’s stock traded hands, compared to its average volume of 6,946,437. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa Inc. has a twelve month low of $250.03 and a twelve month high of $312.44. The company has a market capitalization of $564.55 billion, a P/E ratio of 32.05, a P/E/G ratio of 2.07 and a beta of 0.95. The company has a fifty day moving average of $288.10 and a 200 day moving average of $276.63.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.33 earnings per share. On average, analysts forecast that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The company 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 is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio is presently 24.25%.

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.