Independent Advisor Alliance Decreases Stake in Visa Inc. (NYSE:V)

Independent Advisor Alliance trimmed its holdings in Visa Inc. (NYSE:V) by 10.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,370 shares of the credit-card processor’s stock after selling 7,927 shares during the period. Visa accounts for about 0.7% of Independent Advisor Alliance’s holdings, making the stock its 25th biggest holding. Independent Advisor Alliance’s holdings in Visa were worth $19,623,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Davis R M Inc. raised its holdings in Visa by 2.4% in the 3rd quarter. Davis R M Inc. now owns 284,030 shares of the credit-card processor’s stock valued at $78,094,000 after buying an additional 6,566 shares during the period. Prosperity Financial Group Inc. raised its position in Visa by 5.2% in the 3rd quarter. Prosperity Financial Group Inc. now owns 4,882 shares of the credit-card processor’s stock valued at $1,342,000 after purchasing an additional 242 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Visa by 2.1% during the 3rd quarter. Fisher Asset Management LLC now owns 9,584,713 shares of the credit-card processor’s stock worth $2,635,317,000 after purchasing an additional 196,891 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Visa by 7.2% during the third quarter. Daiwa Securities Group Inc. now owns 304,618 shares of the credit-card processor’s stock worth $83,755,000 after purchasing an additional 20,368 shares during the last quarter. Finally, Hartford Funds Management Co LLC raised its stake in Visa by 3.2% during the 3rd quarter. Hartford Funds Management Co LLC now owns 4,154 shares of the credit-card processor’s stock worth $1,142,000 after acquiring an additional 129 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Up 0.0 %

Shares of Visa stock opened at $309.92 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa Inc. has a 1-year low of $251.61 and a 1-year high of $312.44. The business has a 50-day moving average of $289.52 and a 200-day moving average of $277.34. The company has a market capitalization of $577.34 billion, a PE ratio of 31.85, a P/E/G ratio of 2.08 and a beta of 0.95.

Visa (NYSE:V) last released its 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 company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the business posted $2.33 EPS. The business’s revenue was up 11.7% on a year-over-year basis. As a group, equities analysts forecast that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts recently commented on V shares. JPMorgan Chase & Co. upped their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Jefferies Financial Group raised their target price on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. TD Cowen increased their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Bank of America increased their price target on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 94.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by 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.