Exchange Traded Concepts LLC reduced its stake in shares of Visa Inc. (NYSE:V - Free Report) by 15.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,567 shares of the credit-card processor's stock after selling 2,294 shares during the period. Exchange Traded Concepts LLC's holdings in Visa were worth $3,455,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. Hilltop National Bank purchased a new position in Visa in the first quarter worth approximately $1,212,000. Absolute Capital Management LLC acquired a new stake in shares of Visa during the 1st quarter worth about $404,000. Davidson Capital Management Inc. raised its holdings in Visa by 0.5% in the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor's stock valued at $2,588,000 after buying an additional 44 shares during the period. Empirical Finance LLC lifted its position in Visa by 4.4% in the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor's stock valued at $12,761,000 after buying an additional 1,914 shares during the last quarter. Finally, Arjuna Capital boosted its stake in Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor's stock worth $3,111,000 after buying an additional 96 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
NYSE V opened at $277.84 on Monday. The firm's fifty day moving average price is $274.16 and its 200 day moving average price is $272.62. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $508.15 billion, a price-to-earnings ratio of 31.04, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96.
Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts' consensus estimates of $2.42. The business had revenue of $8.90 billion for the quarter, compared to analysts' expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business's revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.16 earnings per share. On average, sell-side analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Friday, August 9th. Visa's dividend payout ratio is currently 23.24%.
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company's stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.19% of the company's stock.
Several brokerages have recently commented on V. Oppenheimer began coverage on shares of Visa in a report on Tuesday, October 1st. They issued an "outperform" rating and a $318.00 price objective on the stock. Morgan Stanley restated an "overweight" rating and set a $322.00 price target on shares of Visa in a research note on Wednesday, September 25th. TD Cowen cut their price objective on Visa from $320.00 to $318.00 and set a "buy" rating on the stock in a report on Wednesday, July 24th. Citigroup decreased their target price on Visa from $321.00 to $319.00 and set a "buy" rating on the stock in a research note on Wednesday, July 24th. Finally, Monness Crespi & Hardt reaffirmed a "neutral" rating on shares of Visa in a research report on Tuesday, September 24th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $313.81.
Get Our Latest Stock Analysis on V
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.
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