Stonebridge Financial Planning Group LLC Sells 468 Shares of Visa Inc. $V

Stonebridge Financial Planning Group LLC trimmed its position in Visa Inc. (NYSE:V) by 5.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 8,410 shares of the credit-card processor’s stock after selling 468 shares during the period. Visa makes up 1.2% of Stonebridge Financial Planning Group LLC’s portfolio, making the stock its 19th biggest holding. Stonebridge Financial Planning Group LLC’s holdings in Visa were worth $2,986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Keystone Global Partners LLC acquired a new stake in Visa in the 1st quarter worth about $26,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Visa during the 2nd quarter worth approximately $28,000. Harbor Asset Planning Inc. bought a new position in shares of Visa during the second quarter worth approximately $29,000. Cranbrook Wealth Management LLC raised its position 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 valued at $32,000 after buying an additional 41 shares in the last quarter. Finally, Hoese & Co LLP acquired a new stake in shares of Visa in the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction 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 sale, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. The trade was a 26.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 23,897 shares of company stock valued at $8,164,561 in the last quarter. Insiders own 0.13% of the company’s stock.

Visa Price Performance

Visa stock opened at $336.63 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.12 and a current ratio of 1.08. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The stock has a market capitalization of $616.97 billion, a P/E ratio of 32.97, a price-to-earnings-growth ratio of 2.06 and a beta of 0.87. The stock has a fifty day moving average of $343.84 and a 200-day moving average of $348.51.

Visa (NYSE:V) last released its quarterly earnings data 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 analyst estimates of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.Visa’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted $2.71 earnings per share. On average, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on V shares. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Wells Fargo & Company raised Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. UBS Group set a $425.00 price target on Visa and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Robert W. Baird set a $425.00 price objective on shares of Visa in a research note on Wednesday, October 29th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.