Hedeker Wealth LLC Sells 305 Shares of Visa Inc. $V

Hedeker Wealth LLC lessened its holdings in shares of Visa Inc. (NYSE:V) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,490 shares of the credit-card processor’s stock after selling 305 shares during the period. Visa makes up 1.9% of Hedeker Wealth LLC’s portfolio, making the stock its 16th biggest position. Hedeker Wealth LLC’s holdings in Visa were worth $8,340,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after acquiring an additional 1,677,088 shares during the period. Geode Capital Management LLC increased its holdings in shares of Visa by 2.5% during the second 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 acquiring an additional 1,067,631 shares in the last quarter. Northern Trust Corp grew its holdings in Visa by 4.0% during the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock worth $6,654,189,000 after buying an additional 726,299 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Visa by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after acquiring an additional 955,392 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Visa by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock valued at $4,442,157,000 after acquiring an additional 434,217 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Visa stock opened at $329.89 on Friday. The firm has a 50 day simple moving average of $342.16 and a 200-day simple moving average of $348.69. The stock has a market cap of $604.63 billion, a price-to-earnings ratio of 32.31, a price-to-earnings-growth ratio of 2.00 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 1.08. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share 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 during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period last year, the business earned $2.71 earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders 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%. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is 26.25%.

Insider Buying and Selling

In other Visa news, Director Lloyd Carney sold 900 shares of the business’s 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 sale, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. The trade was a 26.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 23,897 shares of company stock valued at $8,164,561. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on V shares. Wells Fargo & Company raised Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Raymond James Financial reaffirmed an “outperform” rating and issued a $408.00 target price (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. Morgan Stanley set a $398.00 target price on Visa and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Barclays reiterated an “overweight” rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Finally, Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.