Virtue Capital Management LLC Reduces Stock Position in Visa Inc. $V

Virtue Capital Management LLC cut its stake in Visa Inc. (NYSE:V) by 42.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 5,585 shares of the credit-card processor’s stock after selling 4,096 shares during the quarter. Virtue Capital Management LLC’s holdings in Visa were worth $1,983,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in V. Keystone Global Partners LLC purchased a new stake in shares of Visa in the first quarter worth about $26,000. Family Legacy Financial Solutions LLC purchased a new stake in Visa in the 2nd quarter worth approximately $28,000. Harbor Asset Planning Inc. purchased a new stake in Visa in the 2nd quarter worth approximately $29,000. Cranbrook Wealth Management LLC boosted its holdings in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the period. Finally, Hoese & Co LLP purchased a new position in shares of Visa during the 2nd quarter valued at $36,000. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the completion of the sale, the insider owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This represents a 7.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s 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 completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $183,117. The trade was a 95.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 24,042 shares of company stock valued at $8,175,152 over the last three months. 0.13% of the stock is owned by company insiders.

Visa Price Performance

Shares of Visa stock opened at $334.10 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The company has a fifty day moving average of $339.82 and a 200-day moving average of $347.42. The stock has a market capitalization of $608.65 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 1.98 and a beta of 0.87.

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

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a $0.67 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is 26.25%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on V shares. Macquarie dropped their price objective on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Morgan Stanley set a $398.00 price objective on Visa and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, KeyCorp reiterated an “overweight” rating and issued a $405.00 target price on shares of Visa in a research report on Wednesday, October 22nd. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $400.00.

Visa 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.