Visa Inc. $V is Troy Asset Management Ltd’s 2nd Largest Position

Troy Asset Management Ltd trimmed its holdings in shares of Visa Inc. (NYSE:V) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,386,290 shares of the credit-card processor’s stock after selling 26,334 shares during the period. Visa makes up about 13.3% of Troy Asset Management Ltd’s portfolio, making the stock its 2nd biggest position. Troy Asset Management Ltd’s holdings in Visa were worth $492,202,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in V. Family Legacy Financial Solutions LLC acquired a new position in Visa during the second quarter valued at $28,000. Harbor Asset Planning Inc. purchased a new position in shares of Visa during the 2nd quarter valued at about $29,000. Sagard Holdings Management Inc. acquired a new position in shares of Visa in the 2nd quarter valued at about $31,000. Cranbrook Wealth Management LLC lifted its holdings in shares of 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 buying an additional 41 shares during the period. Finally, Bare Financial Services Inc boosted its stake in shares of Visa by 287.0% in the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after buying an additional 66 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. KeyCorp reiterated an “overweight” rating and set a $405.00 price target on shares of Visa in a research report on Wednesday, October 22nd. Citigroup raised shares of Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Hsbc Global Res raised shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. Robert W. Baird set a $425.00 target price on shares of Visa in a research note on Wednesday, October 29th. Finally, Macquarie dropped their target price on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Visa currently has an average rating of “Buy” and a consensus price target of $402.52.

Visa Stock Performance

NYSE:V opened at $347.15 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $632.42 billion, a PE ratio of 34.00, a P/E/G ratio of 2.05 and a beta of 0.82. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The company has a fifty day moving average of $337.65 and a two-hundred day moving average of $345.04.

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, beating the consensus estimate of $2.97 by $0.01. The business had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.71 earnings per share. As a group, research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were paid a dividend of $0.67 per share. This is an increase from Visa’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio (DPR) is presently 26.25%.

Insider Buying and Selling at Visa

In other news, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the transaction, the director owned 2,468 shares in the company, valued at $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $183,117. The trade was a 95.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 24,042 shares of company stock valued at $8,175,152 over the last quarter. 0.12% of the stock is currently owned by insiders.

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.