BNC Wealth Management LLC Sells 49 Shares of Visa Inc. (NYSE:V)

BNC Wealth Management LLC decreased its stake in Visa Inc. (NYSE:V) by 0.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,214 shares of the credit-card processor’s stock after selling 49 shares during the period. BNC Wealth Management LLC’s holdings in Visa were worth $1,709,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KMG Fiduciary Partners LLC increased its position in shares of Visa by 0.3% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after buying an additional 37 shares in the last quarter. Iron Horse Wealth Management LLC grew its stake in Visa by 15.9% in the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock valued at $74,000 after acquiring an additional 37 shares during the period. Tlwm increased its holdings in shares of Visa by 0.7% in the second quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after acquiring an additional 38 shares in the last quarter. Meridian Financial Partners LLC raised its position in shares of Visa by 0.5% during the second quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock worth $2,196,000 after purchasing an additional 38 shares during the period. Finally, First National Corp MA ADV lifted its holdings in shares of Visa by 1.0% during the 3rd quarter. First National Corp MA ADV now owns 3,841 shares of the credit-card processor’s stock valued at $1,056,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of a number of research reports. Robert W. Baird increased their target price on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Citigroup boosted their price objective on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Finally, Oppenheimer restated an “outperform” rating and issued a $321.00 price target (up from $318.00) on shares of Visa in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Stock Performance

V opened at $305.76 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12-month low of $240.97 and a 12-month high of $309.00. The business has a 50 day moving average of $282.69 and a 200-day moving average of $274.20. The stock has a market cap of $557.19 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 2.06 and a beta of 0.95.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.33 earnings per share. On average, equities research analysts expect that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a $0.59 dividend. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio is currently 21.38%.

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.