Triangle Securities Wealth Management trimmed its stake in shares of Visa Inc. (NYSE:V) by 17.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,026 shares of the credit-card processor’s stock after selling 2,783 shares during the quarter. Visa accounts for 1.0% of Triangle Securities Wealth Management’s portfolio, making the stock its 27th largest holding. Triangle Securities Wealth Management’s holdings in Visa were worth $2,902,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp boosted its holdings in shares of Visa by 0.9% in the 2nd quarter. State Street Corp now owns 73,461,430 shares of the credit-card processor’s stock worth $17,176,752,000 after acquiring an additional 663,802 shares in the last quarter. FMR LLC boosted its holdings in shares of Visa by 1.7% in the 2nd quarter. FMR LLC now owns 57,670,100 shares of the credit-card processor’s stock worth $13,484,422,000 after acquiring an additional 946,851 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Visa by 1.3% in the 2nd quarter. Morgan Stanley now owns 41,708,994 shares of the credit-card processor’s stock worth $9,752,396,000 after acquiring an additional 533,415 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Visa by 4.5% in the 2nd quarter. Geode Capital Management LLC now owns 28,005,159 shares of the credit-card processor’s stock worth $6,529,879,000 after acquiring an additional 1,200,144 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Visa by 1.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 24,257,046 shares of the credit-card processor’s stock worth $5,671,782,000 after acquiring an additional 435,238 shares in the last quarter. 80.54% of the stock is currently owned by institutional investors and hedge funds.
In other Visa news, President Ryan Mcinerney sold 11,193 shares of the stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $229.10, for a total value of $2,564,316.30. Following the transaction, the president now directly owns 11,193 shares of the company’s stock, valued at approximately $2,564,316.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction dated Friday, October 29th. The shares were sold at an average price of $208.57, for a total transaction of $1,877,130.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,580 shares of company stock worth $11,376,866. 0.19% of the stock is owned by insiders.
Visa stock opened at $203.25 on Thursday. The firm has a 50-day moving average of $219.79 and a 200-day moving average of $228.86. Visa Inc. has a one year low of $192.81 and a one year high of $252.67. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.75 and a quick ratio of 2.00. The company has a market cap of $395.92 billion, a price-to-earnings ratio of 36.10, a P/E/G ratio of 1.88 and a beta of 0.92.
Visa (NYSE:V) last issued its earnings results on Tuesday, October 26th. The credit-card processor reported $1.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.09. The company had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.51 billion. Visa had a net margin of 51.07% and a return on equity of 37.62%. Visa’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 EPS. As a group, sell-side analysts expect that Visa Inc. will post 7.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 7th. Stockholders of record on Friday, November 12th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.74%. This is a boost from Visa’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, November 10th. Visa’s dividend payout ratio is presently 26.64%.
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.
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