CreativeOne Wealth LLC Sells 2,816 Shares of Visa Inc. (NYSE:V)

CreativeOne Wealth LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 13.2% during the third quarter, Holdings Channel.com reports. The firm owned 18,579 shares of the credit-card processor’s stock after selling 2,816 shares during the quarter. CreativeOne Wealth LLC’s holdings in Visa were worth $5,108,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Visa by 110.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 27,957 shares of the credit-card processor’s stock worth $7,687,000 after purchasing an additional 14,675 shares in the last quarter. Soros Capital Management LLC purchased a new position in Visa during the 3rd quarter worth $2,229,000. Freedom Investment Management Inc. increased its position in Visa by 7.4% during the 3rd quarter. Freedom Investment Management Inc. now owns 8,115 shares of the credit-card processor’s stock valued at $2,231,000 after buying an additional 562 shares in the last quarter. Capital Counsel LLC NY raised its stake in Visa by 0.7% in the third quarter. Capital Counsel LLC NY now owns 813,630 shares of the credit-card processor’s stock valued at $223,707,000 after buying an additional 5,607 shares during the last quarter. Finally, Hardy Reed LLC boosted its holdings in Visa by 4.0% in the third quarter. Hardy Reed LLC now owns 13,936 shares of the credit-card processor’s stock worth $3,832,000 after acquiring an additional 536 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.4 %

Shares of Visa stock opened at $311.82 on Wednesday. The firm has a 50-day simple moving average of $290.37 and a two-hundred day simple moving average of $277.80. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa Inc. has a fifty-two week low of $251.61 and a fifty-two week high of $314.50. The company has a market cap of $580.88 billion, a P/E ratio of 32.05, a price-to-earnings-growth ratio of 2.10 and a beta of 0.95.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.33 earnings per share. As a group, equities analysts predict that Visa Inc. will post 11.19 earnings per share for the current fiscal 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 issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.76%. The ex-dividend date is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is presently 24.25%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on V. Jefferies Financial Group upped their price objective on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Bank of America upped their price target on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Robert W. Baird lifted their price objective on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and issued a $321.00 target price (up from $318.00) on shares of Visa in a research report on Wednesday, October 30th. Finally, Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average target price of $321.74.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 of the company’s stock, valued at $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

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.