Cassaday & Co Wealth Management LLC Sells 383 Shares of Visa Inc. (NYSE:V)

Cassaday & Co Wealth Management LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 1.0% in the third quarter, Holdings Channel.com reports. The firm owned 36,125 shares of the credit-card processor’s stock after selling 383 shares during the period. Visa comprises approximately 0.3% of Cassaday & Co Wealth Management LLC’s investment portfolio, making the stock its 25th biggest holding. Cassaday & Co Wealth Management LLC’s holdings in Visa were worth $9,933,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Peterson Financial Group Inc. purchased a new position in shares of Visa in the 3rd quarter worth approximately $26,000. POM Investment Strategies LLC grew its position in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the period. Reston Wealth Management LLC bought a new position in shares of Visa during the 3rd quarter valued at approximately $31,000. TruNorth Capital Management LLC increased its position in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares during the last quarter. Finally, Bbjs Financial Advisors LLC purchased a new stake in Visa in the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of Visa stock opened at $309.64 on Monday. Visa Inc. has a 12-month low of $245.60 and a 12-month high of $312.44. The firm has a market cap of $564.26 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company’s fifty day simple moving average is $287.04 and its two-hundred day simple moving average is $276.01.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the previous year, the firm earned $2.33 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities analysts expect that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.76%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is presently 24.25%.

Analyst Ratings Changes

A number of brokerages have weighed in on V. Jefferies Financial Group increased their target price on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 price objective on shares of Visa in a report on Thursday, September 12th. TD Cowen boosted their target price on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada increased their price target on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley increased their price objective on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

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.