Rehmann Capital Advisory Group Trims Holdings in Visa Inc. (NYSE:V)

Rehmann Capital Advisory Group reduced its holdings in Visa Inc. (NYSE:V) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,325 shares of the credit-card processor’s stock after selling 159 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Visa were worth $3,116,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Peterson Financial Group Inc. bought a new stake in shares of Visa during the third quarter valued at approximately $26,000. POM Investment Strategies LLC increased its stake in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares in the last quarter. Reston Wealth Management LLC bought a new stake in Visa during the third quarter worth about $31,000. TruNorth Capital Management LLC increased its stake in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Visa during the second quarter valued at approximately $35,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on V shares. Oppenheimer reaffirmed an “outperform” rating and issued a $321.00 price target (up previously from $318.00) on shares of Visa in a research report on Wednesday, October 30th. Mizuho upped their price objective on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Susquehanna boosted their price target on Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a research note on Wednesday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Finally, Robert W. Baird upped their target price on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $324.74.

Visa Price Performance

Shares of Visa stock opened at $312.38 on Wednesday. The company has a market capitalization of $581.93 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 2.07 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock’s 50-day simple moving average is $296.38 and its 200-day simple moving average is $279.98. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $317.42.

Visa (NYSE:V) last posted its quarterly earnings results 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. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the previous year, the firm earned $2.33 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. As a group, analysts expect that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is 24.25%.

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.