Visa Inc. $V Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp lessened its position in shares of Visa Inc. (NYSE:V) by 2.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 40,631 shares of the credit-card processor’s stock after selling 1,203 shares during the period. Heritage Investors Management Corp’s holdings in Visa were worth $14,426,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Keystone Global Partners LLC acquired a new position in shares of Visa during the 1st quarter worth $26,000. von Borstel & Associates Inc. acquired a new position in shares of Visa during the 1st quarter worth $27,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Visa during the 2nd quarter worth $28,000. Harbor Asset Planning Inc. acquired a new position in shares of Visa during the 2nd quarter worth $29,000. Finally, Cranbrook Wealth Management LLC raised its stake 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 worth $32,000 after buying an additional 41 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on V. Macquarie cut their target price on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research note on Wednesday. Morgan Stanley set a $398.00 target price on shares of Visa and gave the company an “overweight” rating in a research note on Wednesday. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Robert W. Baird set a $425.00 target price on shares of Visa in a research note on Wednesday. Four equities 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. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $400.00.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction 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. This represents a 95.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred 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 approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Down 1.1%

NYSE V 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 company has a 50-day moving average of $344.78 and a 200-day moving average of $348.40. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.12. The company has a market cap of $625.11 billion, a P/E ratio of 33.41, a P/E/G ratio of 2.03 and a beta of 0.90.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter in the prior year, the company posted $2.71 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is currently 23.11%.

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.