Freestone Capital Holdings LLC Has $22.38 Million Stock Position in Visa Inc. $V

Freestone Capital Holdings LLC lowered its position in shares of Visa Inc. (NYSE:V) by 8.2% in the second quarter, HoldingsChannel reports. The fund owned 63,025 shares of the credit-card processor’s stock after selling 5,635 shares during the period. Visa makes up 0.8% of Freestone Capital Holdings LLC’s portfolio, making the stock its 21st largest position. Freestone Capital Holdings LLC’s holdings in Visa were worth $22,377,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Keystone Global Partners LLC acquired a new position in Visa during the 1st quarter worth approximately $26,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Visa during the 2nd quarter worth approximately $28,000. Harbor Asset Planning Inc. bought a new stake in shares of Visa during the 2nd quarter worth approximately $29,000. Cranbrook Wealth Management LLC raised its stake in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares in the last quarter. Finally, Hoese & Co LLP bought a new stake in shares of Visa during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.9%

V opened at $340.00 on Wednesday. Visa Inc. has a 1-year low of $291.58 and a 1-year high of $375.51. The stock’s fifty day simple moving average is $344.31 and its 200 day simple moving average is $348.65. 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 $623.15 billion, a PE ratio of 33.30, a price-to-earnings-growth ratio of 2.01 and a beta of 0.87.

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

Visa Increases Dividend

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

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,117. This represents a 95.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Monday, August 18th. The shares were 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 directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 22,997 shares of company stock worth $7,861,729. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on V shares. Raymond James Financial reiterated an “outperform” rating and set a $408.00 price objective (up previously from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective on the stock. Truist Financial dropped their price objective on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Finally, UBS Group set a $425.00 price objective on Visa and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $400.00.

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.