Intech Investment Management LLC Sells 4,484 Shares of Visa Inc. $V

Intech Investment Management LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 4.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,370 shares of the credit-card processor’s stock after selling 4,484 shares during the period. Intech Investment Management LLC’s holdings in Visa were worth $35,281,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC grew its holdings in shares of 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 purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after buying an additional 4,817 shares during the last quarter. Kingsman Wealth Management Inc. purchased a new stake in Visa during the 1st quarter valued at $1,935,000. Capital & Planning LLC grew its holdings in Visa by 25.1% in the 1st quarter. Capital & Planning LLC now owns 1,187 shares of the credit-card processor’s stock worth $416,000 after acquiring an additional 238 shares during the last quarter. Finally, Concord Wealth Partners increased its position in shares of Visa by 3.7% in the first quarter. Concord Wealth Partners now owns 9,537 shares of the credit-card processor’s stock valued at $3,342,000 after acquiring an additional 338 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,117. This trade represents a 95.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the sale, the director directly owned 2,468 shares in the company, valued at $830,432.64. The trade was a 26.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 23,897 shares of company stock worth $8,164,561. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of several recent analyst reports. Robert W. Baird set a $425.00 price objective on shares of Visa in a research note on Wednesday, October 29th. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. UBS Group set a $425.00 price objective on Visa and gave the stock a “buy” rating in a report on Wednesday, October 29th. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Finally, Barclays restated an “overweight” rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Stock Down 1.8%

V stock opened at $329.89 on Friday. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The company has a market capitalization of $604.63 billion, a price-to-earnings ratio of 32.31, a price-to-earnings-growth ratio of 2.03 and a beta of 0.87. The business’s 50 day moving average price is $342.16 and its two-hundred day moving average price is $348.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter last year, the business posted $2.71 EPS. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.67 per share. This is an increase from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s payout ratio is 26.25%.

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.