Thoroughbred Financial Services LLC Trims Holdings in Visa Inc. $V

Thoroughbred Financial Services LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 31.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 26,931 shares of the credit-card processor’s stock after selling 12,644 shares during the period. Thoroughbred Financial Services LLC’s holdings in Visa were worth $9,561,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Keystone Global Partners LLC purchased a new stake in shares of Visa during the 1st quarter worth about $26,000. Family Legacy Financial Solutions LLC acquired a new stake in Visa in the 2nd quarter valued at $28,000. Harbor Asset Planning Inc. acquired a new position in Visa during the second quarter worth $29,000. Cranbrook Wealth Management LLC grew its position 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 purchasing an additional 41 shares during the period. Finally, Hoese & Co LLP acquired a new position in shares of Visa during the 2nd quarter worth about $36,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Down 1.8%

NYSE V opened at $329.89 on Friday. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The firm has a 50 day moving average of $342.16 and a two-hundred day moving average of $348.64. The stock has a market capitalization of $604.63 billion, a PE ratio of 32.31, a price-to-earnings-growth ratio of 2.03 and a beta of 0.87. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

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, topping the consensus estimate of $2.97 by $0.01. The business 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 company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.71 EPS. As a group, research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a $0.67 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s payout ratio is currently 26.25%.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s 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 transaction, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director owned 2,468 shares in the company, valued at $830,432.64. The trade was a 26.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 23,897 shares of company stock worth $8,164,561. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. KeyCorp reiterated an “overweight” rating and set a $405.00 price objective on shares of Visa in a research report on Wednesday, October 22nd. Barclays reissued an “overweight” rating and issued a $408.00 price target (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Macquarie lowered their price target on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Finally, Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Four 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.