Proficio Capital Partners LLC Reduces Stake in Visa Inc. (NYSE:V)

Proficio Capital Partners LLC decreased its stake in shares of Visa Inc. (NYSE:V) by 12.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 23,069 shares of the credit-card processor’s stock after selling 3,427 shares during the period. Proficio Capital Partners LLC’s holdings in Visa were worth $6,343,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of V. POM Investment Strategies LLC raised its holdings in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of Visa during the 3rd quarter valued at about $31,000. TruNorth Capital Management LLC increased its position 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 purchasing an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC bought a new position in shares of Visa during the 2nd quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in shares of Visa during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on V shares. Compass Point started coverage on Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective on the stock. Citigroup increased their price objective on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BMO Capital Markets increased their price objective on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group raised their price target on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four investment 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 company’s stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction 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 completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by company insiders.

Visa Trading Up 0.7 %

V opened at $307.87 on Friday. The stock has a market cap of $561.03 billion, a PE ratio of 31.64, a PEG ratio of 2.06 and a beta of 0.95. 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 business has a 50 day moving average of $283.95 and a 200-day moving average of $274.67. Visa Inc. has a 52 week low of $240.97 and a 52 week high of $311.15.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.33 EPS. Equities research analysts predict that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.77%. Visa’s payout ratio is presently 21.38%.

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.