Visa Inc. $V Stock Position Trimmed by Horizon Investment Services LLC

Horizon Investment Services LLC cut its holdings in Visa Inc. (NYSE:V) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,416 shares of the credit-card processor’s stock after selling 622 shares during the quarter. Visa accounts for 2.6% of Horizon Investment Services LLC’s portfolio, making the stock its 10th biggest holding. Horizon Investment Services LLC’s holdings in Visa were worth $5,829,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of V. Yeomans Consulting Group Inc. grew its position in Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock valued at $360,000 after acquiring an additional 29 shares in the last quarter. Semus Wealth Partners LLC boosted its stake in shares of 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 purchasing an additional 29 shares during the period. BankPlus Wealth Management LLC boosted its stake in shares of 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 purchasing an additional 29 shares during the period. Transcendent Capital Group LLC grew its holdings in Visa by 2.9% during the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock valued at $360,000 after purchasing an additional 29 shares in the last quarter. Finally, Valued Retirements Inc. increased its stake in Visa by 4.3% during the 1st quarter. Valued Retirements Inc. now owns 728 shares of the credit-card processor’s stock worth $255,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $183,117. The trade was a 95.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 23,897 shares of company stock worth $8,164,561. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Macquarie lowered their target price on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. KeyCorp reissued an “overweight” rating and issued a $405.00 price target on shares of Visa in a report on Wednesday, October 22nd. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Raymond James Financial reaffirmed an “outperform” rating and issued a $408.00 target price (up from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $400.00.

Visa Trading Down 0.3%

Shares of NYSE V opened at $335.91 on Friday. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51. The company has a market cap of $615.66 billion, a price-to-earnings ratio of 32.90, a price-to-earnings-growth ratio of 2.04 and a beta of 0.87. 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’s 50 day simple moving average is $343.52 and its 200 day simple moving average is $348.62.

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

Visa Increases Dividend

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

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.