Visa Inc. $V Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd decreased its stake in Visa Inc. (NYSE:V) by 9.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 135,895 shares of the credit-card processor’s stock after selling 13,994 shares during the quarter. Visa makes up about 3.3% of Cumberland Partners Ltd’s holdings, making the stock its 10th biggest position. Cumberland Partners Ltd’s holdings in Visa were worth $48,250,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Nuveen LLC purchased a new stake in shares of Visa during the 1st quarter worth about $3,518,533,000. Vanguard Group Inc. raised its position in Visa by 1.1% during the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after acquiring an additional 1,677,088 shares in the last quarter. Wellington Management Group LLP lifted its stake in Visa by 17.7% in the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after acquiring an additional 1,651,954 shares during the last quarter. Geode Capital Management LLC grew its position in Visa by 2.5% in the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after acquiring an additional 1,067,631 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new position in shares of Visa during the 1st quarter valued at $373,240,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Visa news, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the sale, the director directly owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’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 transaction of $3,575,385.00. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,117. The trade was a 95.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,870 shares of company stock valued at $7,467,233 in the last three months. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on V. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Barclays reissued an “overweight” rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. KeyCorp restated an “overweight” rating and issued a $405.00 target price on shares of Visa in a report on Wednesday, October 22nd. Morgan Stanley set a $398.00 price target on Visa and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Robert W. Baird set a $425.00 price target on shares of Visa in a research report on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $400.00.

Visa Price Performance

NYSE:V opened at $323.87 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a one year low of $299.00 and a one year high of $375.51. The company has a fifty day moving average price of $341.07 and a 200 day moving average price of $348.23. The stock has a market cap of $590.01 billion, a P/E ratio of 31.72, a PEG ratio of 1.90 and a beta of 0.87.

Visa (NYSE:V) last posted 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. The company had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.71 EPS. Analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The firm also recently declared 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. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s payout ratio is presently 26.25%.

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.