Clal Insurance Enterprises Holdings Ltd Cuts Stock Holdings in Visa Inc. $V

Clal Insurance Enterprises Holdings Ltd lessened its holdings in Visa Inc. (NYSE:V) by 12.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 219,182 shares of the credit-card processor’s stock after selling 30,132 shares during the quarter. Clal Insurance Enterprises Holdings Ltd’s holdings in Visa were worth $77,821,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Brighton Jones LLC increased its holdings in shares of Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after purchasing an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after buying an additional 4,817 shares during the period. Capital & Planning LLC increased its holdings in Visa by 25.1% in the first quarter. Capital & Planning LLC now owns 1,187 shares of the credit-card processor’s stock valued at $416,000 after buying an additional 238 shares in the last quarter. GW&K Investment Management LLC lifted its position in shares of Visa by 5.0% during the 1st quarter. GW&K Investment Management LLC now owns 1,332 shares of the credit-card processor’s stock valued at $467,000 after acquiring an additional 63 shares during the period. Finally, Obermeyer Wealth Partners boosted its stake in shares of Visa by 1.8% during the 1st quarter. Obermeyer Wealth Partners now owns 24,624 shares of the credit-card processor’s stock worth $8,630,000 after acquiring an additional 440 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Visa stock opened at $320.78 on Wednesday. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. 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 firm has a 50 day moving average price of $341.36 and a 200 day moving average price of $348.40. The company has a market cap of $584.37 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 1.97 and a beta of 0.87.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The company had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business posted $2.71 EPS. Sell-side analysts predict 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. Investors of record on Wednesday, November 12th will be issued a $0.67 dividend. This is an increase from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s dividend payout ratio is presently 26.25%.

Insider Activity at Visa

In other Visa news, Director Lloyd Carney sold 900 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director owned 2,468 shares of the company’s stock, valued at $830,432.64. This trade represents a 26.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa 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 completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,117. The trade was a 95.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 21,870 shares of company stock worth $7,467,233 in the last 90 days. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Citigroup raised Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Raymond James Financial restated an “outperform” rating and set a $408.00 target price (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. Robert W. Baird set a $425.00 price target on Visa in a report on Wednesday, October 29th. Macquarie cut their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Finally, UBS Group set a $425.00 price target 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 assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

Visa 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.