Visa Inc. $V Position Decreased by Shorepath Capital Management LLC

Shorepath Capital Management LLC decreased its position in Visa Inc. (NYSE:V) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,561 shares of the credit-card processor’s stock after selling 814 shares during the period. Visa comprises 7.2% of Shorepath Capital Management LLC’s portfolio, making the stock its 5th largest holding. Shorepath Capital Management LLC’s holdings in Visa were worth $8,720,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in V. Brighton Jones LLC boosted its holdings in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after acquiring an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Visa by 68.9% in 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. Kingsman Wealth Management Inc. acquired a new stake in shares of Visa in the first quarter valued at about $1,935,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Visa by 6.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 483,680 shares of the credit-card processor’s stock valued at $169,510,000 after purchasing an additional 28,492 shares during the period. Finally, Summit Trail Advisors LLC lifted its stake in shares of Visa by 26.6% in the first quarter. Summit Trail Advisors LLC now owns 34,152 shares of the credit-card processor’s stock valued at $11,969,000 after purchasing an additional 7,175 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V opened at $341.07 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. The stock has a market cap of $625.11 billion, a P/E ratio of 33.41, a PEG ratio of 2.06 and a beta of 0.90. The company has a 50-day moving average of $344.78 and a two-hundred day moving average of $348.31. Visa Inc. has a 12-month low of $287.19 and a 12-month high of $375.51.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The company had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.71 earnings per share. As a group, research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a $0.67 dividend. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 23.11%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Citigroup upgraded shares of Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Raymond James Financial reiterated an “outperform” rating and issued a $408.00 price objective (up previously from $398.00) on shares of Visa in a research note on Wednesday. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Macquarie reduced their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $400.00.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were 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 of the company’s stock, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.13% of the company’s stock.

Visa Company 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.