McElhenny Sheffield Capital Management LLC Cuts Stake in Visa Inc. $V

McElhenny Sheffield Capital Management LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 2.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,345 shares of the credit-card processor’s stock after selling 70 shares during the period. McElhenny Sheffield Capital Management LLC’s holdings in Visa were worth $833,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of V. Brighton Jones LLC raised 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 valued at $6,522,000 after buying an additional 6,883 shares during the period. Revolve Wealth Partners LLC raised 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 valued at $3,733,000 after buying an additional 4,817 shares during the period. GAMMA Investing LLC raised 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 valued at $14,761,000 after buying an additional 3,795 shares during the period. Goldstone Financial Group LLC raised its holdings in Visa by 7.7% in the first quarter. Goldstone Financial Group LLC now owns 1,459 shares of the credit-card processor’s stock valued at $511,000 after buying an additional 104 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Visa by 22.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 867,704 shares of the credit-card processor’s stock valued at $304,096,000 after buying an additional 161,161 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on V shares. Macquarie raised their price target on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Raymond James Financial restated an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Barclays reaffirmed an “overweight” rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Robert W. Baird set a $410.00 price objective on shares of Visa and gave the company an “outperform” rating in a research report on Monday, October 6th. Finally, Morgan Stanley increased their price objective on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $389.00.

Visa Trading Down 1.0%

V opened at $343.63 on Monday. Visa Inc. has a 12-month low of $275.37 and a 12-month high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $629.79 billion, a PE ratio of 33.56, a P/E/G ratio of 2.03 and a beta of 0.90. The firm’s fifty day moving average price is $343.77 and its 200 day moving average price is $346.97.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the prior year, the firm posted $2.42 EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. As a group, research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

Insiders Place Their Bets

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

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.