Joule Financial LLC Sells 47 Shares of Visa Inc. (NYSE:V)

Joule Financial LLC decreased its holdings in Visa Inc. (NYSE:V) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 871 shares of the credit-card processor’s stock after selling 47 shares during the quarter. Joule Financial LLC’s holdings in Visa were worth $239,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Westend Capital Management LLC bought a new position in Visa in the first quarter valued at about $25,000. 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 worth $28,000 after buying an additional 97 shares during the period. TruNorth Capital Management LLC raised its stake in shares of Visa by 211.9% during 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. Bbjs Financial Advisors LLC acquired a new position in Visa in the second quarter valued at approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in Visa in the second quarter valued at approximately $35,000. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

NYSE:V opened at $290.62 on Friday. The firm has a fifty day simple moving average of $276.91 and a 200 day simple moving average of $272.94. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07. The stock has a market capitalization of $531.53 billion, a PE ratio of 32.47, a P/E/G ratio of 1.94 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

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

Visa Dividend Announcement

The company 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. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.72%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred 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 owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on V. Evercore ISI reduced their price target on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Morgan Stanley reissued an “overweight” rating and set a $322.00 price objective on shares of Visa in a research note on Wednesday, September 25th. Oppenheimer assumed coverage on shares of Visa in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 target price for the company. Citigroup cut their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Royal Bank of Canada decreased their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average target price of $314.19.

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.