Deroy & Devereaux Private Investment Counsel Inc. Sells 163 Shares of Visa Inc. $V

Deroy & Devereaux Private Investment Counsel Inc. lowered its position in Visa Inc. (NYSE:V) by 8.5% during the 2nd quarter, Holdings Channel reports. The fund owned 1,751 shares of the credit-card processor’s stock after selling 163 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Visa were worth $622,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in V. Brighton Jones LLC boosted its holdings in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after acquiring an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after acquiring an additional 4,817 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Visa by 9.9% in the first quarter. GAMMA Investing LLC now owns 42,120 shares of the credit-card processor’s stock worth $14,761,000 after acquiring an additional 3,795 shares in the last quarter. Good Steward Wealth Advisors LLC bought a new position in Visa in the first quarter worth approximately $217,000. Finally, Segment Wealth Management LLC lifted its holdings in shares of Visa by 0.5% in the first quarter. Segment Wealth Management LLC now owns 65,833 shares of the credit-card processor’s stock valued at $23,072,000 after purchasing an additional 316 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of Visa stock opened at $341.90 on Friday. The business’s fifty day simple moving average is $344.30 and its 200 day simple moving average is $346.83. The firm has a market capitalization of $626.63 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 2.02 and a beta of 0.90. Visa Inc. has a 12 month low of $280.78 and a 12 month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company posted $2.42 earnings per share. As a group, analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is 23.05%.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This trade represents a 95.13% 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. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on V. UBS Group restated a “buy” rating and issued a $415.00 target price (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Barclays restated an “overweight” rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price on the stock. Morgan Stanley raised their target price on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Finally, Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $389.00.

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.