Visa Inc. (NYSE:V) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC trimmed its position in Visa Inc. (NYSE:V) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,001 shares of the credit-card processor’s stock after selling 479 shares during the quarter. Visa comprises 0.7% of Icon Wealth Advisors LLC’s investment portfolio, making the stock its 26th biggest position. Icon Wealth Advisors LLC’s holdings in Visa were worth $8,524,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Peterson Financial Group Inc. purchased a new stake in shares of Visa in the 3rd quarter valued at approximately $26,000. POM Investment Strategies LLC increased its holdings in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in Visa in the third quarter valued at approximately $31,000. TruNorth Capital Management LLC raised its position in Visa by 211.9% in 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 during the period. Finally, Bbjs Financial Advisors LLC acquired a new position in Visa during the second quarter worth $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.9 %

Visa stock opened at $314.70 on Friday. Visa Inc. has a fifty-two week low of $251.61 and a fifty-two week high of $316.37. The firm has a market capitalization of $586.25 billion, a price-to-earnings ratio of 32.34, a price-to-earnings-growth ratio of 2.11 and a beta of 0.95. The stock’s fifty day moving average is $291.48 and its two-hundred day moving average is $278.31. 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 (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.33 EPS. Analysts predict that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business 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 dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s payout ratio is currently 24.25%.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The stock was 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 $148,687.06. This represents a 94.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction 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 sale, 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 position. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Macquarie boosted their price target on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. BMO Capital Markets lifted their price target on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Citigroup increased their price objective on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

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.