Intech Investment Management LLC Sells 848 Shares of Visa Inc. (NYSE:V)

Intech Investment Management LLC lowered its holdings in shares of Visa Inc. (NYSE:V) by 1.1% in the third quarter, Holdings Channel.com reports. The fund owned 76,916 shares of the credit-card processor’s stock after selling 848 shares during the quarter. Intech Investment Management LLC’s holdings in Visa were worth $21,148,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Unionview LLC increased its holdings in Visa by 1.5% during the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after purchasing an additional 33 shares during the period. FWG Holdings LLC lifted its stake in Visa by 1.1% in the third quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock worth $900,000 after acquiring an additional 34 shares during the period. St. Louis Trust Co increased its position in Visa by 0.9% during the 3rd quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock valued at $1,068,000 after purchasing an additional 34 shares during the period. KMG Fiduciary Partners LLC raised its holdings 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 purchasing an additional 37 shares in the last quarter. Finally, Iron Horse Wealth Management LLC increased its holdings in Visa by 15.9% during the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock valued at $74,000 after buying an additional 37 shares during the period. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Citigroup raised their price target on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Susquehanna boosted their price objective on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Four equities research 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Insider Activity 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 transaction of $2,382,309.40. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by corporate insiders.

Visa Stock Performance

NYSE:V opened at $307.39 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market capitalization of $560.16 billion, a PE ratio of 31.59, a P/E/G ratio of 2.09 and a beta of 0.95. Visa Inc. has a fifty-two week low of $250.03 and a fifty-two week high of $312.44. The company has a fifty day moving average of $288.57 and a two-hundred day moving average of $276.84.

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. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the company posted $2.33 earnings per share. The business’s revenue was up 11.7% on a year-over-year basis. As a group, research analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.77%. Visa’s payout ratio is presently 24.25%.

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.