Visa Inc. (NYSE:V) Shares Sold by Concentric Capital Strategies LP

Concentric Capital Strategies LP trimmed its holdings in Visa Inc. (NYSE:V) by 36.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,399 shares of the credit-card processor’s stock after selling 10,470 shares during the quarter. Concentric Capital Strategies LP’s holdings in Visa were worth $5,059,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in shares of Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after purchasing an additional 9,736,958 shares during the period. SG Americas Securities LLC lifted its stake in shares of Visa by 4,412.3% in the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after acquiring an additional 4,166,905 shares during the period. FMR LLC boosted its holdings in shares of Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after acquiring an additional 3,265,518 shares in the last quarter. Wulff Hansen & CO. raised its holdings in Visa by 26,951.9% during the second quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after purchasing an additional 1,582,074 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Visa in the third quarter valued at about $268,640,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.1 %

V stock opened at $315.08 on Monday. 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 has a market cap of $586.96 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 2.12 and a beta of 0.95. The business has a fifty day simple moving average of $292.09 and a 200-day simple moving average of $278.55. Visa Inc. has a 52 week low of $252.14 and a 52 week high of $316.37.

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

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on V shares. JPMorgan Chase & Co. increased their target price on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Compass Point began coverage on shares of Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price on the stock. Jefferies Financial Group lifted their price target on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price target on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a 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 issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

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.