Visa Inc. $V Position Lessened by Clal Insurance Enterprises Holdings Ltd

Clal Insurance Enterprises Holdings Ltd cut its stake in Visa Inc. (NYSE:V) by 12.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,182 shares of the credit-card processor’s stock after selling 30,132 shares during the period. Clal Insurance Enterprises Holdings Ltd’s holdings in Visa were worth $77,821,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Haverford Financial Services Inc. acquired a new stake in shares of Visa in the 2nd quarter worth about $3,054,000. Empirical Finance LLC grew its position in Visa by 0.9% in the 2nd quarter. Empirical Finance LLC now owns 44,891 shares of the credit-card processor’s stock worth $15,939,000 after purchasing an additional 401 shares during the last quarter. Nicholas Wealth LLC. increased its stake in shares of Visa by 1.8% in the second quarter. Nicholas Wealth LLC. now owns 4,611 shares of the credit-card processor’s stock valued at $1,637,000 after purchasing an additional 81 shares during the period. ARS Investment Partners LLC raised its holdings in shares of Visa by 3.2% during the second quarter. ARS Investment Partners LLC now owns 2,782 shares of the credit-card processor’s stock valued at $988,000 after buying an additional 86 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of Visa by 1.7% during the second quarter. TD Waterhouse Canada Inc. now owns 673,791 shares of the credit-card processor’s stock valued at $239,353,000 after buying an additional 11,088 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

NYSE:V opened at $320.78 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The business’s 50-day moving average price is $341.36 and its 200 day moving average price is $348.40. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The firm has a market cap of $584.37 billion, a P/E ratio of 31.42, a PEG ratio of 1.97 and a beta of 0.87.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. The company had revenue of $10.72 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $2.71 EPS. As a group, sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a $0.67 dividend. 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%. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s dividend payout ratio is currently 26.25%.

Insiders Place Their Bets

In other news, Director Lloyd Carney sold 900 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the sale, the director owned 2,468 shares in the company, valued at approximately $830,432.64. This represents a 26.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $183,117. The trade was a 95.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,870 shares of company stock valued at $7,467,233 in the last quarter. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Macquarie lowered their target price on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Wells Fargo & Company raised Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Raymond James Financial reaffirmed an “outperform” rating and issued a $408.00 price objective (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Finally, UBS Group set a $425.00 target price on shares of Visa and gave the company a “buy” rating in a research note on Wednesday, October 29th. Four research 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 company. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average 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.