Manchester Financial Inc. Cuts Stake in Visa Inc. $V

Manchester Financial Inc. lowered its position in Visa Inc. (NYSE:V) by 34.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,178 shares of the credit-card processor’s stock after selling 3,713 shares during the quarter. Manchester Financial Inc.’s holdings in Visa were worth $2,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of V. Brighton Jones LLC boosted its stake in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after purchasing an additional 4,817 shares during the period. GAMMA Investing LLC boosted its stake in shares of Visa by 9.9% during the first quarter. GAMMA Investing LLC now owns 42,120 shares of the credit-card processor’s stock valued at $14,761,000 after purchasing an additional 3,795 shares during the period. Cross Staff Investments Inc boosted its stake in shares of Visa by 4.5% during the first quarter. Cross Staff Investments Inc now owns 6,386 shares of the credit-card processor’s stock valued at $2,238,000 after purchasing an additional 273 shares during the period. Finally, Childress Capital Advisors LLC boosted its stake in shares of Visa by 5.1% during the first quarter. Childress Capital Advisors LLC now owns 6,051 shares of the credit-card processor’s stock valued at $2,121,000 after purchasing an additional 291 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of Visa stock opened at $344.44 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market cap of $631.28 billion, a PE ratio of 33.64, a P/E/G ratio of 2.03 and a beta of 0.90. The business has a 50 day moving average of $344.47 and a 200 day moving average of $347.11. Visa Inc. has a 52 week low of $280.78 and a 52 week high of $375.51.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.42 earnings per share. As a group, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is 23.05%.

Analyst Ratings Changes

V has been the subject of a number of analyst reports. Raymond James Financial reissued an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Morgan Stanley increased their price objective on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Robert W. Baird set a $410.00 price objective on Visa and gave the company an “outperform” rating in a research note on Monday, October 6th. Finally, Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $389.00.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently 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.