US Asset Management LLC Sells 269 Shares of Visa Inc. (NYSE:V)

US Asset Management LLC decreased its stake in shares of Visa Inc. (NYSE:V) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,465 shares of the credit-card processor’s stock after selling 269 shares during the period. Visa accounts for about 1.8% of US Asset Management LLC’s portfolio, making the stock its 7th largest holding. US Asset Management LLC’s holdings in Visa were worth $1,959,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of V. CoreCap Advisors LLC bought a new stake in Visa in the 2nd quarter valued at $2,609,000. SYM FINANCIAL Corp boosted its position in shares of Visa by 23.0% in the second quarter. SYM FINANCIAL Corp now owns 1,495 shares of the credit-card processor’s stock valued at $392,000 after acquiring an additional 280 shares during the period. Client 1ST Advisory Group LLC grew its stake in shares of Visa by 7.5% in the second quarter. Client 1ST Advisory Group LLC now owns 2,170 shares of the credit-card processor’s stock valued at $570,000 after acquiring an additional 152 shares in the last quarter. Valley Wealth Managers Inc. raised its stake in Visa by 36.6% in the 2nd quarter. Valley Wealth Managers Inc. now owns 2,660 shares of the credit-card processor’s stock worth $698,000 after purchasing an additional 712 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its holdings in Visa by 3.5% in the 2nd quarter. GHP Investment Advisors Inc. now owns 34,547 shares of the credit-card processor’s stock valued at $9,068,000 after purchasing an additional 1,169 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price target on shares of Visa in a research report on Thursday. Morgan Stanley cut their price objective on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Citigroup reduced their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Evercore ISI cut their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Finally, StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average price target of $309.81.

Visa Price Performance

Shares of NYSE V opened at $287.36 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $523.66 billion, a PE ratio of 32.11, a P/E/G ratio of 2.00 and a beta of 0.96. The firm has a fifty day simple moving average of $268.29 and a 200 day simple moving average of $273.31. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the business earned $2.16 EPS. Visa’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, sell-side analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.72%. Visa’s dividend payout ratio is presently 23.24%.

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.