Clark Asset Management LLC Sells 162 Shares of Visa Inc. $V

Clark Asset Management LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 1.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,285 shares of the credit-card processor’s stock after selling 162 shares during the quarter. Visa comprises 0.6% of Clark Asset Management LLC’s portfolio, making the stock its 25th largest position. Clark Asset Management LLC’s holdings in Visa were worth $4,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Keystone Global Partners LLC purchased a new position in shares of Visa in the 1st quarter valued at approximately $26,000. von Borstel & Associates Inc. bought a new position in Visa in the first quarter worth $27,000. Family Legacy Financial Solutions LLC purchased a new position in Visa during the second quarter valued at $28,000. Harbor Asset Planning Inc. bought a new stake in shares of Visa during the 2nd quarter valued at $29,000. Finally, Cranbrook Wealth Management LLC boosted its holdings in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 41 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Trading Down 1.7%

NYSE:V opened at $340.93 on Thursday. The stock has a market cap of $624.86 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 2.05 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average price is $344.93 and its 200-day moving average price is $348.30. Visa Inc. has a 52 week low of $287.19 and a 52 week high of $375.51.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.20% and a net margin of 50.15%.The business had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the prior year, the firm posted $2.71 EPS. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. 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 firm 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. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio is currently 23.05%.

Insider Buying and Selling at Visa

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 transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, 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 SEC filing for this sale provides additional information. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. KeyCorp reissued an “overweight” rating and set a $405.00 price target on shares of Visa in a research report on Wednesday, October 22nd. Robert W. Baird set a $425.00 target price on shares of Visa in a report on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Oppenheimer raised their price objective on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $400.00.

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.