Torray Investment Partners LLC Reduces Position in Visa Inc. (NYSE:V)

Torray Investment Partners LLC cut its stake in shares of Visa Inc. (NYSE:V) by 13.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,850 shares of the credit-card processor’s stock after selling 3,410 shares during the quarter. Torray Investment Partners LLC’s holdings in Visa were worth $5,735,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in V. Hilltop National Bank acquired a new position in shares of Visa in the first quarter worth about $1,212,000. Absolute Capital Management LLC acquired a new position in shares of Visa during the 1st quarter worth about $404,000. SageView Advisory Group LLC raised its position in shares of Visa by 40.4% during the 4th quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit-card processor’s stock worth $6,967,000 after purchasing an additional 7,236 shares during the last quarter. Davidson Capital Management Inc. raised its position in shares of Visa by 0.5% during the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after purchasing an additional 44 shares during the last quarter. Finally, Empirical Finance LLC raised its position in shares of Visa by 4.4% during the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after purchasing an additional 1,914 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the 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 sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Visa Trading Up 0.3 %

Shares of V traded up $0.75 on Friday, hitting $279.37. 7,187,805 shares of the stock traded hands, compared to its average volume of 7,125,969. 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 firm has a market capitalization of $509.10 billion, a P/E ratio of 31.23, a P/E/G ratio of 1.98 and a beta of 0.96. The stock’s 50 day moving average is $266.53 and its two-hundred day moving average is $273.14. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96.

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

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is currently 23.24%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. William Blair raised shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Macquarie reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Visa in a research report on Wednesday, July 24th. TD Cowen lowered their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Jefferies Financial Group reduced their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Compass Point assumed coverage on shares of Visa in a report on Wednesday. They set a “buy” rating and a $319.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average target price of $309.54.

Visa 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.