Visa Inc. (NYSE:V) Shares Sold by Maverick Capital Ltd.

Maverick Capital Ltd. decreased its position in Visa Inc. (NYSE:V) by 16.6% in the 3rd quarter, Holdings Channel reports. The fund owned 492,259 shares of the credit-card processor’s stock after selling 97,853 shares during the period. Visa accounts for 2.6% of Maverick Capital Ltd.’s holdings, making the stock its 12th biggest holding. Maverick Capital Ltd.’s holdings in Visa were worth $135,347,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Encompass More Asset Management purchased a new position in Visa in the third quarter valued at about $256,000. L.M. Kohn & Company boosted its stake in shares of Visa by 2.5% during the 3rd quarter. L.M. Kohn & Company now owns 19,278 shares of the credit-card processor’s stock valued at $5,300,000 after buying an additional 477 shares during the last quarter. Point72 Europe London LLP acquired a new stake in Visa in the third quarter valued at $6,956,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in Visa by 18.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,160,422 shares of the credit-card processor’s stock valued at $319,058,000 after acquiring an additional 182,030 shares during the last quarter. Finally, Circle Wealth Management LLC grew its holdings in Visa by 9.6% during the 3rd quarter. Circle Wealth Management LLC now owns 5,910 shares of the credit-card processor’s stock worth $1,625,000 after acquiring an additional 518 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on V. Bank of America increased their price target 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. Deutsche Bank Aktiengesellschaft increased their target price on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citigroup boosted their price target on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley raised their price objective on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Stock Up 0.1 %

V stock opened at $315.07 on Friday. The firm’s 50-day moving average is $292.09 and its two-hundred day moving average is $278.56. 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 company has a market capitalization of $586.94 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 2.11 and a beta of 0.95. Visa Inc. has a 52 week low of $252.14 and a 52 week high of $316.37.

Visa (NYSE:V) last released its earnings results 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. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.33 earnings per share. On average, analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.75%. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This trade represents a 94.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of 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 position. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate 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.