Visa Inc. (NYSE:V) Holdings Lessened by Cumberland Partners Ltd

Cumberland Partners Ltd trimmed its stake in Visa Inc. (NYSE:V) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,902 shares of the credit-card processor’s stock after selling 2,735 shares during the period. Visa accounts for approximately 2.9% of Cumberland Partners Ltd’s holdings, making the stock its 9th largest position. Cumberland Partners Ltd’s holdings in Visa were worth $41,765,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. POM Investment Strategies LLC raised its stake in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. Reston Wealth Management LLC bought a new position in shares of Visa during the 3rd quarter valued at about $31,000. TruNorth Capital Management LLC grew its position in shares of Visa by 211.9% during the second 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 in the last quarter. Bbjs Financial Advisors LLC purchased a new stake in shares of Visa in the second quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in Visa during the second quarter valued at approximately $35,000. 82.15% of the stock is owned by institutional investors.

Visa Stock Down 0.2 %

Shares of V stock opened at $309.82 on Wednesday. The stock has a market cap of $564.59 billion, a P/E ratio of 31.84, a P/E/G ratio of 2.08 and a beta of 0.95. Visa Inc. has a twelve month low of $244.11 and a twelve month high of $312.44. The stock has a 50 day moving average of $284.64 and a 200 day moving average of $274.92. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last issued its quarterly earnings data 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 business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the firm posted $2.33 earnings per share. The company’s revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 21.38%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of several recent research reports. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Jefferies Financial Group increased their price objective on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Compass Point began coverage on Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target for the company. Citigroup lifted their target price on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Barclays upped their price target on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

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.