WCM Investment Management LLC Has $585.67 Million Stock Holdings in Visa Inc. (NYSE:V)

WCM Investment Management LLC reduced its holdings in shares of Visa Inc. (NYSE:V) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,128,404 shares of the credit-card processor’s stock after selling 19,897 shares during the period. Visa comprises about 1.3% of WCM Investment Management LLC’s investment portfolio, making the stock its 28th biggest position. WCM Investment Management LLC’s holdings in Visa were worth $585,673,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in V. POM Investment Strategies LLC lifted its holdings in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the period. Reston Wealth Management LLC acquired a new stake in shares of Visa during the 3rd quarter worth about $31,000. TruNorth Capital Management LLC lifted its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new position in Visa in the second quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in Visa during the second quarter worth about $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 1.0 %

Visa stock opened at $310.98 on Tuesday. Visa Inc. has a fifty-two week low of $244.11 and a fifty-two week high of $312.44. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. The firm has a market capitalization of $566.70 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 2.06 and a beta of 0.95. The company’s 50 day simple moving average is $283.95 and its 200 day simple moving average is $274.67.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $9.49 billion. During the same period last year, the firm posted $2.33 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.59 dividend. The ex-dividend date is Tuesday, November 12th. 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%. Visa’s payout ratio is currently 21.38%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on V shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays raised their price target on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday, November 4th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research note on Tuesday, September 3rd. Bank of America raised their target price on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Finally, Macquarie lifted their price target on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’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 sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Visa 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.