Whitaker Myers Wealth Managers LTD. Sells 634 Shares of Visa Inc. (NYSE:V)

Whitaker Myers Wealth Managers LTD. lowered its holdings in shares of Visa Inc. (NYSE:V) by 45.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 754 shares of the credit-card processor’s stock after selling 634 shares during the quarter. Whitaker Myers Wealth Managers LTD.’s holdings in Visa were worth $207,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. AA Financial Advisors LLC lifted its stake in shares of Visa by 1.9% in the 3rd quarter. AA Financial Advisors LLC now owns 5,023 shares of the credit-card processor’s stock valued at $1,381,000 after purchasing an additional 94 shares during the last quarter. Chicago Capital LLC lifted its position in Visa by 5.2% in the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after buying an additional 20,023 shares during the last quarter. Etesian Wealth Advisors Inc. boosted its stake in Visa by 2.8% during the third quarter. Etesian Wealth Advisors Inc. now owns 5,677 shares of the credit-card processor’s stock worth $1,561,000 after buying an additional 154 shares during the period. TriaGen Wealth Management LLC increased its position in Visa by 0.6% during the third quarter. TriaGen Wealth Management LLC now owns 6,605 shares of the credit-card processor’s stock valued at $1,816,000 after acquiring an additional 39 shares during the last quarter. Finally, Cahaba Wealth Management Inc. raised its stake in shares of Visa by 13.5% in the third quarter. Cahaba Wealth Management Inc. now owns 2,685 shares of the credit-card processor’s stock valued at $738,000 after acquiring an additional 319 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent analyst reports. Citigroup dropped their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Robert W. Baird boosted their price objective on Visa from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday. Jefferies Financial Group reduced their target price on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $314.19.

Visa Trading Up 0.1 %

V opened at $290.62 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market cap of $531.53 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 1.94 and a beta of 0.96. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07. The stock has a fifty day moving average price of $276.91 and a 200-day moving average price of $272.91.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.16 EPS. As a group, equities research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

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.