Visa Inc. $V Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. reduced its stake in shares of Visa Inc. (NYSE:V) by 0.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 350,673 shares of the credit-card processor’s stock after selling 94 shares during the period. Visa accounts for about 0.9% of D.A. Davidson & CO.’s portfolio, making the stock its 21st largest holding. D.A. Davidson & CO.’s holdings in Visa were worth $124,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Yeomans Consulting Group Inc. boosted its holdings in shares of Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock worth $360,000 after purchasing an additional 29 shares during the last quarter. Semus Wealth Partners LLC lifted its holdings in Visa by 0.8% in the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock valued at $1,209,000 after acquiring an additional 29 shares during the last quarter. BankPlus Wealth Management LLC lifted its holdings in Visa by 0.9% in the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock valued at $1,185,000 after acquiring an additional 29 shares during the last quarter. Transcendent Capital Group LLC lifted its holdings in Visa by 2.9% in the second quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock valued at $360,000 after acquiring an additional 29 shares during the last quarter. Finally, Wood Tarver Financial Group LLC lifted its holdings in Visa by 11.1% in the first quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor’s stock valued at $105,000 after acquiring an additional 30 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Up 0.1%

Shares of NYSE V opened at $345.82 on Friday. The firm has a market cap of $633.81 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 2.04 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 52-week low of $280.78 and a 52-week high of $375.51. The business’s 50 day moving average is $344.73 and its two-hundred day moving average is $347.33.

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

Visa Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on V. Macquarie upped their price objective on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. UBS Group reiterated a “buy” rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Citigroup began coverage on Visa in a report on Wednesday. They issued a “buy” rating and a $450.00 price objective on the stock. Oppenheimer upped their price objective on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $392.75.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s 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 sale, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. This represents a 95.13% 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.