BLB&B Advisors LLC Sells 756 Shares of Visa Inc. $V

BLB&B Advisors LLC decreased its holdings in Visa Inc. (NYSE:V) by 1.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 62,040 shares of the credit-card processor’s stock after selling 756 shares during the quarter. Visa comprises approximately 1.0% of BLB&B Advisors LLC’s holdings, making the stock its 24th largest position. BLB&B Advisors LLC’s holdings in Visa were worth $22,027,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of V. Keystone Global Partners LLC bought a new stake in shares of Visa during the 1st quarter valued at approximately $26,000. von Borstel & Associates Inc. bought a new stake in Visa during the 1st quarter worth approximately $27,000. Family Legacy Financial Solutions LLC bought a new stake in Visa in the second quarter valued at approximately $28,000. Harbor Asset Planning Inc. bought a new stake in Visa in the second quarter valued at approximately $29,000. Finally, Cranbrook Wealth Management LLC boosted its stake in shares of 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 last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 1.1%

Shares of Visa stock opened at $341.07 on Friday. Visa Inc. has a 12-month low of $287.19 and a 12-month high of $375.51. The stock has a market cap of $625.11 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 2.03 and a beta of 0.90. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $344.78 and a 200-day simple moving average of $348.40.

Visa (NYSE:V) last announced its quarterly earnings data 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 firm had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.71 earnings per share. On average, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a $0.67 dividend. 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 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is currently 23.11%.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the 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 completion of 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 SEC filing for this sale provides additional information. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent analyst reports. Macquarie dropped their price target on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a report on Wednesday. Raymond James Financial restated an “outperform” rating and set a $408.00 price target (up from $398.00) on shares of Visa in a research report on Wednesday. UBS Group set a $425.00 price target on shares of Visa and gave the company a “buy” rating in a research report on Wednesday. KeyCorp restated an “overweight” rating and set a $405.00 target price on shares of Visa in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

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.