Keystone Financial Services Lowers Stock Position in Visa Inc. $V

Keystone Financial Services cut its stake in shares of Visa Inc. (NYSE:V) by 6.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,874 shares of the credit-card processor’s stock after selling 206 shares during the quarter. Keystone Financial Services’ holdings in Visa were worth $1,020,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in V. Keystone Global Partners LLC purchased a new stake in shares of Visa in the first quarter worth $26,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Visa during the 2nd quarter valued at $28,000. Harbor Asset Planning Inc. bought a new position in Visa in the 2nd quarter worth $29,000. Cranbrook Wealth Management LLC increased its stake in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares in the last quarter. Finally, Hoese & Co LLP purchased a new stake in Visa in the 2nd quarter worth $36,000. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, Director Lloyd Carney sold 900 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the transaction, the director owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,117. This represents a 95.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 23,897 shares of company stock valued at $8,164,561 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Performance

NYSE V opened at $335.91 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.12. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The business has a 50 day simple moving average of $343.52 and a two-hundred day simple moving average of $348.74. The stock has a market capitalization of $615.66 billion, a PE ratio of 32.90, a P/E/G ratio of 2.03 and a beta of 0.87.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) 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 business had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the prior year, the firm earned $2.71 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

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

Analysts Set New Price Targets

V has been the subject of a number of recent analyst reports. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Visa in a research note on Wednesday, October 22nd. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Citigroup raised shares of Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Finally, Macquarie lowered their target price on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Four equities 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.