Visa Inc. $V Stock Holdings Cut by Gables Capital Management Inc.

Gables Capital Management Inc. decreased its position in shares of Visa Inc. (NYSE:V) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,446 shares of the credit-card processor’s stock after selling 270 shares during the period. Visa makes up about 1.9% of Gables Capital Management Inc.’s investment portfolio, making the stock its 10th largest position. Gables Capital Management Inc.’s holdings in Visa were worth $4,064,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Keystone Global Partners LLC bought a new position in Visa during the first quarter valued at $26,000. von Borstel & Associates Inc. bought a new position in Visa during the first quarter valued at $27,000. Family Legacy Financial Solutions LLC bought a new position in Visa during the second quarter valued at $28,000. Harbor Asset Planning Inc. bought a new position in Visa during the second quarter valued at $29,000. Finally, Cranbrook Wealth Management LLC grew its holdings 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 worth $32,000 after purchasing an additional 41 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on V shares. Robert W. Baird set a $410.00 price target on shares of Visa and gave the stock an “outperform” rating in a report on Monday, October 6th. KeyCorp restated an “overweight” rating and issued a $405.00 price target on shares of Visa in a report on Wednesday. UBS Group restated a “buy” rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Finally, Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $392.75.

Visa Stock Up 0.1%

Shares of Visa stock opened at $345.82 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1 year low of $280.78 and a 1 year high of $375.51. The firm’s 50-day moving average is $344.73 and its two-hundred day moving average is $347.33. The stock has a market cap of $633.81 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 2.04 and a beta of 0.90.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same period in the prior year, the business earned $2.42 EPS. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio is presently 23.05%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

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.