PFS Partners LLC Sells 50 Shares of Visa Inc. (NYSE:V)

PFS Partners LLC decreased its holdings in Visa Inc. (NYSE:V) by 34.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 97 shares of the credit-card processor’s stock after selling 50 shares during the quarter. PFS Partners LLC’s holdings in Visa were worth $27,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of V. POM Investment Strategies LLC raised its position in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC bought a new stake in Visa during the 3rd quarter worth about $31,000. TruNorth Capital Management LLC lifted its position in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. Abich Financial Wealth Management LLC boosted its stake in shares of Visa by 52.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after purchasing an additional 46 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Visa during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Compass Point initiated coverage on shares of Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective on the stock. Macquarie raised their price target on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Mizuho upped their price objective on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, November 1st. TD Cowen increased their target price on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird boosted their target price on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

NYSE V opened at $307.87 on Friday. The firm’s fifty day moving average price is $283.95 and its two-hundred day moving average price is $274.67. Visa Inc. has a 1 year low of $240.97 and a 1 year high of $311.15. The firm has a market capitalization of $561.03 billion, a P/E ratio of 31.64, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the company earned $2.33 earnings per share. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, research analysts anticipate that Visa Inc. will post 11.18 EPS for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.77%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s payout ratio is 21.38%.

About Visa

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.