Wrapmanager Inc. Decreases Stake in Visa Inc. (NYSE:V)

Wrapmanager Inc. lessened its stake in shares of Visa Inc. (NYSE:V) by 10.2% during the 3rd quarter, Holdings Channel reports. The firm owned 10,042 shares of the credit-card processor’s stock after selling 1,140 shares during the quarter. Wrapmanager Inc.’s holdings in Visa were worth $2,761,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of V. Capital International Investors raised its position in Visa by 2.7% during the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after buying an additional 626,618 shares during the last quarter. Capital World Investors boosted its holdings in Visa by 5.4% in the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after purchasing an additional 968,008 shares during the last quarter. Ameriprise Financial Inc. grew its position in Visa by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after purchasing an additional 345,829 shares during the period. Legal & General Group Plc raised its stake in shares of Visa by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after buying an additional 312,286 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after buying an additional 9,736,958 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 0.8 %

Shares of V opened at $312.16 on Tuesday. 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 firm has a 50-day moving average price of $287.57 and a 200 day moving average price of $276.32. Visa Inc. has a 12-month low of $245.60 and a 12-month high of $312.44. The firm has a market capitalization of $568.85 billion, a P/E ratio of 32.08, a P/E/G ratio of 2.07 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the company posted $2.33 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. Sell-side analysts forecast that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s payout ratio is presently 24.25%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on V. Susquehanna boosted their price target on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and issued a $321.00 target price (up from $318.00) on shares of Visa in a research note on Wednesday, October 30th. TD Cowen raised 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. Bank of America upped their price objective on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Finally, BMO Capital Markets lifted their price target on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four equities 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’s stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price 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.