Torray Investment Partners LLC Trims Stock Position in Visa Inc. $V

Torray Investment Partners LLC cut its stake in Visa Inc. (NYSE:V) by 6.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,779 shares of the credit-card processor’s stock after selling 1,376 shares during the period. Torray Investment Partners LLC’s holdings in Visa were worth $7,378,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of V. Keystone Global Partners LLC purchased a new stake in shares of Visa in the first quarter valued at about $26,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa in the first quarter valued at about $27,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa in the second quarter valued at about $28,000. Harbor Asset Planning Inc. purchased a new stake in shares of Visa in the second quarter valued at about $29,000. Finally, Cranbrook Wealth Management LLC raised its holdings in shares of Visa by 82.0% in the second 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 during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Down 1.2%

Shares of Visa stock opened at $336.74 on Tuesday. Visa Inc. has a 52-week low of $290.76 and a 52-week high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The company’s 50-day simple moving average is $344.54 and its 200-day simple moving average is $348.57. The firm has a market cap of $617.17 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 2.03 and a beta of 0.87.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping 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 business had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period in the previous year, the business posted $2.71 earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.67 per share. The ex-dividend date 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 yield of 0.8%. Visa’s dividend payout ratio (DPR) is currently 23.11%.

Insider Activity

In other Visa 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 transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $408.00 target price (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. UBS Group set a $425.00 target price on shares of Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. Robert W. Baird set a $425.00 target price on shares of Visa in a report on Wednesday, October 29th. Finally, Macquarie reduced their target price on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $400.00.

About Visa

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.