Keystone Financial Services Reduces Holdings in Visa Inc. $V

Keystone Financial Services decreased its position in shares of Visa Inc. (NYSE:V) by 6.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,874 shares of the credit-card processor’s stock after selling 206 shares during the period. Keystone Financial Services’ holdings in Visa were worth $1,020,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in V. Yeomans Consulting Group Inc. raised its position in Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock worth $360,000 after purchasing an additional 29 shares during the period. Semus Wealth Partners LLC boosted its position in shares of Visa by 0.8% during the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock valued at $1,209,000 after buying an additional 29 shares during the period. BankPlus Wealth Management LLC grew its stake in shares of Visa by 0.9% during the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock valued at $1,185,000 after buying an additional 29 shares during the last quarter. Transcendent Capital Group LLC raised its holdings in shares of Visa by 2.9% in the second quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock worth $360,000 after buying an additional 29 shares during the period. Finally, Valued Retirements Inc. raised its holdings in shares of Visa by 4.3% in the first quarter. Valued Retirements Inc. now owns 728 shares of the credit-card processor’s stock worth $255,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at $183,117. This trade represents a 95.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 23,897 shares of company stock worth $8,164,561 over the last 90 days. Company insiders own 0.13% of the company’s stock.

Visa Stock Down 0.3%

NYSE:V opened at $335.91 on Friday. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The company has a 50-day moving average of $343.52 and a 200 day moving average of $348.74. The firm has a market cap of $615.66 billion, a PE ratio of 32.90, a price-to-earnings-growth ratio of 2.03 and a beta of 0.87. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.12.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter last year, the firm posted $2.71 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s payout ratio is presently 23.11%.

Analyst Ratings Changes

Several equities analysts have commented on the company. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Visa in a research report on Wednesday, October 22nd. Macquarie lowered 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target on the stock. Robert W. Baird set a $425.00 price objective on shares of Visa in a report on Wednesday, October 29th. Finally, Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.