Sfmg LLC Trims Stake in Visa Inc. $V

Sfmg LLC reduced its stake in Visa Inc. (NYSE:V) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,287 shares of the credit-card processor’s stock after selling 210 shares during the period. Visa accounts for 0.6% of Sfmg LLC’s portfolio, making the stock its 26th largest position. Sfmg LLC’s holdings in Visa were worth $7,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Evelyn Partners Asset Management Ltd lifted its stake in shares of Visa by 103.0% in the 2nd quarter. Evelyn Partners Asset Management Ltd now owns 70,460 shares of the credit-card processor’s stock valued at $25,017,000 after purchasing an additional 35,748 shares during the period. AXQ Capital LP raised its holdings in Visa by 151.4% in the second quarter. AXQ Capital LP now owns 5,415 shares of the credit-card processor’s stock worth $1,923,000 after purchasing an additional 3,261 shares in the last quarter. Cooper Haims Advisors LLC lifted its position in Visa by 5.3% during the second quarter. Cooper Haims Advisors LLC now owns 1,596 shares of the credit-card processor’s stock valued at $567,000 after buying an additional 80 shares during the period. Journey Strategic Wealth LLC lifted its position in Visa by 41.2% during the second quarter. Journey Strategic Wealth LLC now owns 17,563 shares of the credit-card processor’s stock valued at $6,236,000 after buying an additional 5,124 shares during the period. Finally, CFC Planning Co LLC boosted its holdings in shares of Visa by 3.8% during the 2nd quarter. CFC Planning Co LLC now owns 5,588 shares of the credit-card processor’s stock valued at $1,984,000 after buying an additional 207 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on V shares. Raymond James Financial reiterated an “outperform” rating and issued a $408.00 price target (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Macquarie decreased 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, October 29th. Barclays restated 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. Morgan Stanley set a $398.00 price objective on Visa and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, Robert W. Baird set a $425.00 target price on Visa in a research note 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Stock Performance

V stock opened at $328.24 on Friday. The stock’s 50 day simple moving average is $340.46 and its 200 day simple moving average is $347.92. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51. The stock has a market capitalization of $597.97 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 1.92 and a beta of 0.87.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The business had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.71 EPS. As a group, research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal 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 paid a dividend of $0.67 per share. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is currently 26.25%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $183,117. This trade represents a 95.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director directly owned 2,468 shares of the company’s stock, 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. Insiders have sold a total of 24,042 shares of company stock valued at $8,175,152 in the last 90 days. 0.13% of the stock is currently owned by insiders.

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.