Corbyn Investment Management Inc. MD Decreases Holdings in Visa Inc. (NYSE:V)

Corbyn Investment Management Inc. MD cut its holdings in shares of Visa Inc. (NYSE:V) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,446 shares of the credit-card processor’s stock after selling 354 shares during the quarter. Visa makes up 1.6% of Corbyn Investment Management Inc. MD’s investment portfolio, making the stock its 22nd largest holding. Corbyn Investment Management Inc. MD’s holdings in Visa were worth $3,792,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in V. Westend Capital Management LLC purchased a new position in Visa in the 1st quarter valued at approximately $25,000. Livelsberger Financial Advisory bought a new stake in shares of Visa during the 4th quarter valued at $25,000. POM Investment Strategies LLC lifted its holdings in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in Visa in the 4th quarter worth about $33,000. Finally, TruNorth Capital Management LLC grew its holdings 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 buying an additional 89 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on V. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research report on Tuesday, September 3rd. Jefferies Financial Group dropped their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Compass Point assumed coverage on Visa in a research report on Wednesday. They issued a “buy” rating and a $319.00 target price for the company. Royal Bank of Canada cut their target price on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Finally, TD Cowen decreased their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $309.54.

Visa Price Performance

V stock opened at $279.37 on Friday. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $290.96. 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 fifty day simple moving average of $266.53 and a two-hundred day simple moving average of $273.13. The firm has a market capitalization of $509.10 billion, a P/E ratio of 31.21, a price-to-earnings-growth ratio of 1.98 and a beta of 0.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the prior year, the firm posted $2.16 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.74%. The ex-dividend date was Friday, August 9th. 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.