Visa Inc. (NYSE:V) Stock Position Cut by South Street Advisors LLC

South Street Advisors LLC lessened its stake in Visa Inc. (NYSE:V) by 3.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,027 shares of the credit-card processor’s stock after selling 2,732 shares during the period. Visa accounts for 2.9% of South Street Advisors LLC’s portfolio, making the stock its 13th biggest holding. South Street Advisors LLC’s holdings in Visa were worth $19,254,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of V. WFA Asset Management Corp lifted its holdings in Visa by 4.6% in the 1st quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after acquiring an additional 100 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Visa by 46.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock valued at $14,046,000 after buying an additional 16,078 shares in the last quarter. Empowered Funds LLC lifted its stake in Visa by 16.0% during the first quarter. Empowered Funds LLC now owns 58,506 shares of the credit-card processor’s stock valued at $16,328,000 after buying an additional 8,086 shares in the last quarter. Blue Barn Wealth LLC lifted its stake in Visa by 22.2% during the first quarter. Blue Barn Wealth LLC now owns 2,773 shares of the credit-card processor’s stock valued at $774,000 after buying an additional 503 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new stake in Visa during the first quarter valued at about $2,499,000. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on V shares. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Mizuho upped their price objective on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. TD Cowen increased their price target on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird increased their price target on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $321.74.

Visa Price Performance

Shares of NYSE:V traded up $1.39 during midday trading on Friday, reaching $309.64. The company’s stock had a trading volume of 5,106,284 shares, compared to its average volume of 5,762,525. Visa Inc. has a fifty-two week low of $245.60 and a fifty-two week high of $312.44. The company has a market capitalization of $564.26 billion, a P/E ratio of 31.83, a P/E/G ratio of 2.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. The business’s fifty day simple moving average is $287.04 and its 200-day simple moving average is $275.90.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the company posted $2.33 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts expect that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 24.25%.

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.