Folger Nolan Fleming Douglas Capital Management Inc. Trims Stock Position in Visa Inc. (NYSE:V)

Folger Nolan Fleming Douglas Capital Management Inc. reduced its stake in shares of Visa Inc. (NYSE:V) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,246 shares of the credit-card processor’s stock after selling 650 shares during the quarter. Visa makes up about 1.6% of Folger Nolan Fleming Douglas Capital Management Inc.’s holdings, making the stock its 13th biggest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Visa were worth $16,565,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. POM Investment Strategies LLC boosted its holdings 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 buying an additional 97 shares in the last quarter. TruNorth Capital Management LLC boosted its holdings in shares of 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. Abich Financial Wealth Management LLC boosted its holdings in shares of Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after buying an additional 46 shares in the last quarter. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Visa during the 2nd quarter valued at $35,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of Visa during the 2nd quarter valued at $35,000. 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 stock in a transaction that occurred 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 directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by insiders.

Visa Price Performance

NYSE V opened at $289.89 on Friday. Visa Inc. has a 52 week low of $232.99 and a 52 week high of $296.34. The firm has a market capitalization of $528.27 billion, a P/E ratio of 29.79, a PEG ratio of 2.00 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $280.53 and a 200-day moving average price of $273.50.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.33 EPS. Equities research analysts anticipate that Visa Inc. will post 11.12 earnings per share for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.81%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio is currently 21.38%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Oppenheimer restated an “outperform” rating and set a $321.00 target price (up previously from $318.00) on shares of Visa in a report on Wednesday. Citigroup upped their price target on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research note on Wednesday. TD Cowen upped their price target on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America upped their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Finally, Morgan Stanley upped their price target on shares of Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $320.07.

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.