Visa Inc. (NYSE:V) Position Reduced by Deseret Mutual Benefit Administrators

Deseret Mutual Benefit Administrators lowered its stake in Visa Inc. (NYSE:V) by 2.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,080 shares of the credit-card processor’s stock after selling 74 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Visa were worth $847,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of Visa by 7.7% during the third quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock worth $1,576,366,000 after purchasing an additional 411,210 shares during the period. Montecito Bank & Trust grew its position in shares of Visa by 2.6% during the 3rd quarter. Montecito Bank & Trust now owns 11,793 shares of the credit-card processor’s stock valued at $3,242,000 after buying an additional 303 shares during the last quarter. Cozad Asset Management Inc. lifted its holdings in Visa by 3.0% in the third quarter. Cozad Asset Management Inc. now owns 5,432 shares of the credit-card processor’s stock worth $1,494,000 after acquiring an additional 160 shares during the last quarter. Bridgewater Advisors Inc. boosted its stake in Visa by 1.6% in the third quarter. Bridgewater Advisors Inc. now owns 20,005 shares of the credit-card processor’s stock valued at $5,639,000 after acquiring an additional 313 shares during the period. Finally, Walkner Condon Financial Advisors LLC grew its holdings in shares of Visa by 5.9% during the third quarter. Walkner Condon Financial Advisors LLC now owns 1,375 shares of the credit-card processor’s stock valued at $378,000 after purchasing an additional 77 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

NYSE V opened at $305.76 on Friday. Visa Inc. has a fifty-two week low of $240.97 and a fifty-two week high of $309.00. The stock’s 50-day moving average is $282.69 and its two-hundred day moving average is $274.20. The firm has a market cap of $557.19 billion, a P/E ratio of 31.42, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.33 EPS. On average, analysts anticipate that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio is presently 21.38%.

Analysts Set New Price Targets

V has been the topic of several recent research reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Compass Point initiated coverage on Visa in a research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price on the stock. TD Cowen boosted their price target on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citigroup increased their price target on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, William Blair upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated 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 directly owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.