NORTHSTAR ASSET MANAGEMENT Co Sells 150 Shares of Visa Inc. $V

NORTHSTAR ASSET MANAGEMENT Co reduced its stake in Visa Inc. (NYSE:V) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,227 shares of the credit-card processor’s stock after selling 150 shares during the period. NORTHSTAR ASSET MANAGEMENT Co’s holdings in Visa were worth $2,566,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in V. Nuveen LLC acquired a new position in shares of Visa during the first quarter valued at about $3,518,533,000. Vanguard Group Inc. boosted its stake in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after purchasing an additional 1,677,088 shares during the last quarter. Wellington Management Group LLP increased its holdings in Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after purchasing an additional 1,651,954 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Visa in the first quarter worth approximately $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after purchasing an additional 955,392 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the 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 sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated 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 sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Visa Stock Performance

NYSE:V opened at $347.34 on Monday. Visa Inc. has a 52-week low of $280.78 and a 52-week high of $375.51. The business’s fifty day moving average is $344.79 and its 200 day moving average is $347.98. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $636.60 billion, a price-to-earnings ratio of 33.92, a PEG ratio of 2.05 and a beta of 0.90.

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

Visa Announces Dividend

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

Analyst Ratings Changes

Several research firms recently weighed in on V. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a report on Friday. Oppenheimer upped their target price on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. UBS Group reissued a “buy” rating and set a $415.00 target price (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, KeyCorp reissued an “overweight” rating and set a $405.00 price objective on shares of Visa in a report on Wednesday, October 22nd. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $392.75.

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.