Corbyn Investment Management Inc. MD Sells 420 Shares of Visa Inc. $V

Corbyn Investment Management Inc. MD lowered its position in Visa Inc. (NYSE:V) by 3.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,168 shares of the credit-card processor’s stock after selling 420 shares during the quarter. Visa makes up approximately 1.6% of Corbyn Investment Management Inc. MD’s portfolio, making the stock its 20th biggest position. Corbyn Investment Management Inc. MD’s holdings in Visa were worth $4,675,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Keystone Global Partners LLC purchased a new position in Visa in the 1st quarter worth $26,000. Family Legacy Financial Solutions LLC purchased a new stake in Visa during the second quarter valued at about $28,000. Harbor Asset Planning Inc. bought a new position in shares of Visa during the second quarter valued at about $29,000. Cranbrook Wealth Management LLC increased its holdings in shares of Visa by 82.0% in the second 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 during the period. Finally, Hoese & Co LLP bought a new stake in shares of Visa in the 2nd quarter valued at about $36,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

V opened at $339.00 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $621.32 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 2.05 and a beta of 0.87. The stock’s 50 day moving average price is $342.72 and its 200-day moving average price is $348.78. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. The business had revenue of $10.72 billion for 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 revenue for the quarter 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. On average, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders 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 dividend 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 payout ratio is presently 23.11%.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred 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 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction that occurred 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 owned 537 shares in the company, valued at $183,117. This trade represents a 95.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,897 shares of company stock worth $8,164,561 over the last 90 days. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on V shares. Morgan Stanley set a $398.00 target price on Visa and gave the company an “overweight” rating in a report on Wednesday, October 29th. UBS Group set a $425.00 price objective on Visa and gave the company a “buy” rating in a research report on Wednesday, October 29th. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. KeyCorp reiterated an “overweight” rating and set a $405.00 price target on shares of Visa in a report on Wednesday, October 22nd. Finally, Barclays reissued an “overweight” rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

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.