Visa Inc. $V Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in shares of Visa Inc. (NYSE:V) by 2.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,361,979 shares of the credit-card processor’s stock after selling 83,265 shares during the period. Visa accounts for about 1.0% of Rhumbline Advisers’ holdings, making the stock its 12th largest holding. Rhumbline Advisers’ holdings in Visa were worth $1,193,671,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new position in Visa in the first quarter valued at approximately $3,518,533,000. Vanguard Group Inc. raised its holdings in Visa by 1.1% during the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after purchasing an additional 1,677,088 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after buying an additional 1,651,954 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Visa by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after buying an additional 1,067,631 shares in the last quarter. Finally, MUFG Securities EMEA plc acquired a new position in shares of Visa in the 1st quarter valued at $373,240,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the completion of the sale, the insider directly owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction 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 completion of the transaction, the director owned 2,468 shares in the company, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 24,042 shares of company stock worth $8,175,152 over the last 90 days. 0.13% of the stock is currently owned by insiders.

Visa Price Performance

Shares of NYSE:V opened at $328.24 on Friday. Visa Inc. has a one year low of $299.00 and a one year high of $375.51. The stock has a market capitalization of $597.97 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 1.92 and a beta of 0.87. The company has a 50-day simple moving average of $340.46 and a 200-day simple moving average of $347.92. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08.

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, beating the consensus estimate of $2.97 by $0.01. The firm had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.71 EPS. On average, analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The business also recently declared 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. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 26.25%.

Analysts Set New Price Targets

V has been the topic of several research analyst reports. UBS Group set a $425.00 price target on shares of Visa and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Wells Fargo & Company raised Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. KeyCorp reissued an “overweight” rating and issued a $405.00 target price on shares of Visa in a research report on Wednesday, October 22nd. Finally, Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.