Visa Inc. (NYSE:V) Shares Sold by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. lessened its position in shares of Visa Inc. (NYSE:V) by 0.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 54,397 shares of the credit-card processor’s stock after selling 499 shares during the period. Visa makes up approximately 1.9% of Cabot Wealth Management Inc.’s investment portfolio, making the stock its 19th largest position. Cabot Wealth Management Inc.’s holdings in Visa were worth $14,956,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in V. Bbjs Financial Advisors LLC raised its stake in Visa by 111.1% in the 3rd quarter. Bbjs Financial Advisors LLC now owns 285 shares of the credit-card processor’s stock valued at $78,000 after purchasing an additional 150 shares during the last quarter. Trust Co. of Oklahoma raised its stake in Visa by 1.6% in the 3rd quarter. Trust Co. of Oklahoma now owns 29,238 shares of the credit-card processor’s stock valued at $8,039,000 after purchasing an additional 447 shares during the last quarter. Swedbank AB raised its stake in Visa by 10.7% in the 3rd quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock valued at $566,153,000 after purchasing an additional 199,440 shares during the last quarter. Zhang Financial LLC raised its stake in Visa by 2.0% in the 3rd quarter. Zhang Financial LLC now owns 5,621 shares of the credit-card processor’s stock valued at $1,546,000 after purchasing an additional 110 shares during the last quarter. Finally, Hayek Kallen Investment Management raised its stake in Visa by 0.6% in the 3rd quarter. Hayek Kallen Investment Management now owns 21,883 shares of the credit-card processor’s stock valued at $6,017,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 0.5 %

Shares of V traded down $1.39 during trading on Tuesday, reaching $279.29. The company’s stock had a trading volume of 5,786,926 shares, compared to its average volume of 7,106,351. The company has a fifty day moving average of $274.65 and a two-hundred day moving average of $272.63. Visa Inc. has a twelve month low of $228.03 and a twelve month high of $293.07. The company has a market cap of $510.80 billion, a price-to-earnings ratio of 31.49, a P/E/G ratio of 1.92 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period in the prior year, the company posted $2.16 EPS. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is 23.24%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating and issued a $322.00 target price on shares of Visa in a research note on Wednesday, September 25th. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. BNP Paribas raised shares of 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. Bank of America upped their price objective on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Finally, Evercore ISI dropped their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $313.81.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate 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.