Cobblestone Capital Advisors LLC NY Sells 9,504 Shares of Visa Inc. $V

Cobblestone Capital Advisors LLC NY cut its stake in Visa Inc. (NYSE:V) by 8.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,202 shares of the credit-card processor’s stock after selling 9,504 shares during the period. Visa makes up approximately 1.9% of Cobblestone Capital Advisors LLC NY’s holdings, making the stock its 17th biggest position. Cobblestone Capital Advisors LLC NY’s holdings in Visa were worth $37,352,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Visa by 14.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock valued at $159,523,000 after purchasing an additional 57,800 shares during the period. Precedent Wealth Partners LLC boosted its holdings in Visa by 7.5% in the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock valued at $564,000 after purchasing an additional 111 shares during the period. Consilium Wealth Advisory LLC bought a new stake in Visa in the 2nd quarter valued at $862,000. Iron Gate Global Advisors LLC boosted its holdings in Visa by 5.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock valued at $22,040,000 after purchasing an additional 3,484 shares during the period. Finally, NatWest Group plc boosted its holdings in Visa by 43.8% in the 2nd quarter. NatWest Group plc now owns 45,660 shares of the credit-card processor’s stock valued at $16,212,000 after purchasing an additional 13,912 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Transactions at Visa

In related news, 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 completion of the sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.13% of the company’s stock.

Visa Trading Down 1.7%

Shares of Visa stock opened at $340.93 on Thursday. The stock has a market capitalization of $624.86 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a 50-day simple moving average of $344.93 and a 200 day simple moving average of $348.30. Visa Inc. has a 12-month low of $287.19 and a 12-month high of $375.51.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (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 analysts’ expectations of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.20%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the company posted $2.71 EPS. Research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $0.67 per share. This is an increase from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio is 23.05%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. KeyCorp restated an “overweight” rating and issued a $405.00 price objective on shares of Visa in a research note on Wednesday, October 22nd. UBS Group set a $425.00 price objective on shares of Visa and gave the company a “buy” rating in a research note on Wednesday. Oppenheimer increased their price objective on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Barclays restated an “overweight” rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, Citigroup upgraded shares of Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus price target 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.