Independent Solutions Wealth Management LLC Reduces Stock Position in Visa Inc. (NYSE:V)

Independent Solutions Wealth Management LLC lessened its holdings in shares of Visa Inc. (NYSE:V) by 1.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 14,749 shares of the credit-card processor’s stock after selling 175 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Visa were worth $4,055,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IMS Capital Management raised its holdings in Visa by 0.9% during the third quarter. IMS Capital Management now owns 10,962 shares of the credit-card processor’s stock worth $3,014,000 after purchasing an additional 93 shares in the last quarter. Brass Tax Wealth Management Inc. raised its stake in shares of Visa by 12.6% during the 3rd quarter. Brass Tax Wealth Management Inc. now owns 2,298 shares of the credit-card processor’s stock worth $632,000 after buying an additional 257 shares in the last quarter. Legacy Wealth Management LLC MS lifted its holdings in shares of Visa by 2.5% in the 3rd quarter. Legacy Wealth Management LLC MS now owns 27,274 shares of the credit-card processor’s stock valued at $7,499,000 after buying an additional 655 shares during the period. Alternative Investment Advisors LLC. acquired a new stake in shares of Visa in the 3rd quarter valued at approximately $224,000. Finally, Garden State Investment Advisory Services LLC grew its holdings in Visa by 5.5% during the third quarter. Garden State Investment Advisory Services LLC now owns 2,589 shares of the credit-card processor’s stock worth $714,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

NYSE:V traded up $6.31 during midday trading on Thursday, hitting $316.09. 3,776,636 shares of the stock were exchanged, compared to its average volume of 6,892,716. Visa Inc. has a one year low of $252.70 and a one year high of $321.61. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average price of $301.66 and a two-hundred day moving average price of $281.98. The company has a market capitalization of $588.84 billion, a price-to-earnings ratio of 32.49, a P/E/G ratio of 2.11 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (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 analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 earnings per share. Sell-side analysts predict that Visa Inc. will post 11.23 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is 24.25%.

Wall Street Analyst Weigh In

Several brokerages have commented on V. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. TD Cowen lifted their price target on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Compass Point started coverage on Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target on the stock. Keefe, Bruyette & Woods increased their price target on shares of Visa from $335.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Morgan Stanley lifted their price target on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $328.41.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

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.