Accent Capital Management LLC Decreases Holdings in Visa Inc. (NYSE:V)

Accent Capital Management LLC reduced its position in Visa Inc. (NYSE:V) by 15.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 14,683 shares of the credit-card processor’s stock after selling 2,748 shares during the period. Visa accounts for approximately 2.3% of Accent Capital Management LLC’s investment portfolio, making the stock its 10th largest holding. Accent Capital Management LLC’s holdings in Visa were worth $4,037,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. POM Investment Strategies LLC raised its position in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC acquired a new position in Visa in the third quarter valued at about $31,000. TruNorth Capital Management LLC boosted its holdings in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new position in shares of Visa during the 2nd quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Visa in the 2nd quarter valued at about $35,000. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

V opened at $309.64 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 $245.60 and a 12-month high of $312.44. The business has a 50 day moving average of $287.04 and a 200-day moving average of $275.95. The stock has a market cap of $564.26 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.07 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly 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 business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the prior year, the business earned $2.33 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities research analysts expect that Visa Inc. will post 11.19 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. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. 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. Visa’s dividend payout ratio is 24.25%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on V shares. Robert W. Baird boosted their price objective on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Citigroup boosted their price target on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Bank of America lifted their target price on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Finally, Susquehanna lifted their price objective on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

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.