Visa Inc. $V Shares Sold by Prossimo Advisors LLC

Prossimo Advisors LLC cut its stake in Visa Inc. (NYSE:VFree Report) by 94.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,068 shares of the credit-card processor’s stock after selling 17,369 shares during the quarter. Visa comprises approximately 2.7% of Prossimo Advisors LLC’s portfolio, making the stock its 12th biggest holding. Prossimo Advisors LLC’s holdings in Visa were worth $365,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Visa in the second quarter worth approximately $7,034,939,000. TCI Fund Management Ltd. raised its stake in Visa by 14.6% in the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after purchasing an additional 2,429,996 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in Visa by 110.4% in the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after purchasing an additional 2,075,289 shares in the last quarter. Vanguard Group Inc. boosted its stake in Visa by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after purchasing an additional 1,461,575 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Visa by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after purchasing an additional 1,067,631 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In other Visa news, Director Lloyd Carney sold 900 shares of the stock in a transaction dated 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 of the company’s stock, valued at $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa 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 approximately $183,117. This represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,042 shares of company stock valued at $8,247,289 over the last 90 days. 0.12% of the stock is owned by insiders.

More Visa News

Here are the key news stories impacting Visa this week:

Wall Street Analyst Weigh In

Several research firms have recently weighed in on V. Evercore ISI set a $380.00 price target on shares of Visa in a research note on Friday, December 12th. Raymond James Financial reiterated 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. Bank of America upgraded Visa from a “neutral” rating to a “buy” rating and set a $382.00 target price on the stock in a report on Thursday, December 11th. Citigroup raised Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Finally, Macquarie reduced their price objective on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Visa currently has an average rating of “Buy” and an average price target of $402.52.

Read Our Latest Research Report on V

Visa Stock Down 0.6%

Shares of NYSE V opened at $327.28 on Friday. The company has a market capitalization of $596.22 billion, a P/E ratio of 32.05, a P/E/G ratio of 1.94 and a beta of 0.81. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. The company has a 50 day simple moving average of $339.56 and a 200-day simple moving average of $343.74. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51.

Visa (NYSE:VGet Free Report) last posted its earnings results 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. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter last year, the firm earned $2.71 earnings per share. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were issued a $0.67 dividend. This is an increase from Visa’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s payout ratio is presently 26.25%.

About Visa

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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