Hedeker Wealth LLC Sells 305 Shares of Visa Inc. $V

Hedeker Wealth LLC cut its position in Visa Inc. (NYSE:V) by 1.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 23,490 shares of the credit-card processor’s stock after selling 305 shares during the period. Visa makes up about 1.9% of Hedeker Wealth LLC’s investment portfolio, making the stock its 16th largest position. Hedeker Wealth LLC’s holdings in Visa were worth $8,340,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Keystone Global Partners LLC acquired a new stake in Visa during the first quarter worth approximately $26,000. Family Legacy Financial Solutions LLC acquired a new stake in Visa during the second quarter worth approximately $28,000. Harbor Asset Planning Inc. acquired a new position in shares of Visa during the second quarter valued at about $29,000. Cranbrook Wealth Management LLC grew its position in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the period. Finally, Hoese & Co LLP bought a new stake in Visa during the 2nd quarter worth approximately $36,000. 82.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on V shares. KeyCorp restated an “overweight” rating and issued a $405.00 price objective on shares of Visa in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Barclays restated an “overweight” rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Macquarie reduced their price target on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Finally, Raymond James Financial reissued an “outperform” rating and set a $408.00 price objective (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $400.00.

Visa Trading Down 1.8%

NYSE:V opened at $329.89 on Friday. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The stock has a market cap of $604.63 billion, a price-to-earnings ratio of 32.31, a PEG ratio of 2.00 and a beta of 0.87. The company’s 50 day moving average price is $342.16 and its 200-day moving average price is $348.69. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.97 by $0.01. The business had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business posted $2.71 EPS. On average, equities research analysts forecast that Visa Inc. will post 11.3 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 1st. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.59. Visa’s payout ratio is 26.25%.

Insider Transactions at Visa

In other Visa news, Director Lloyd Carney sold 900 shares of Visa stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the sale, the director owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. The trade was a 26.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 23,897 shares of company stock worth $8,164,561 over the last three months. 0.13% of the stock is currently owned by company insiders.

Visa Company 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.