Independent Solutions Wealth Management LLC Sells 175 Shares of Visa Inc. (NYSE:V)

Independent Solutions Wealth Management LLC lowered its stake in Visa Inc. (NYSE:V) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,749 shares of the credit-card processor’s stock after selling 175 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Visa were worth $4,055,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Arjuna Capital raised its holdings in Visa by 0.8% in the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after purchasing an additional 96 shares in the last quarter. Custom Index Systems LLC bought a new stake in Visa during the third quarter worth about $731,000. Copley Financial Group Inc. purchased a new stake in Visa in the third quarter worth about $616,000. FORA Capital LLC bought a new position in shares of Visa during the third quarter valued at approximately $7,987,000. Finally, Chicago Capital LLC lifted its holdings in shares of Visa by 5.2% during the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after purchasing an additional 20,023 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Mizuho lifted their target price on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research note on Tuesday, September 3rd. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Morgan Stanley upped their price target on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, TD Cowen increased their price target on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $328.41.

Visa Price Performance

Shares of V stock traded up $6.31 on Thursday, reaching $316.09. 3,776,636 shares of the company were exchanged, compared to its average volume of 6,892,716. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $321.61. The business has a 50-day moving average price of $301.66 and a 200 day moving average price of $281.98. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market cap of $588.84 billion, a price-to-earnings ratio of 32.49, a P/E/G ratio of 2.11 and a beta of 0.96.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.33 earnings per share. Equities research analysts forecast that Visa Inc. will post 11.23 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is currently 24.25%.

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.