Visa Inc. (NYSE:V) Shares Sold by Coastline Trust Co

Coastline Trust Co cut its position in shares of Visa Inc. (NYSE:V) by 0.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,359 shares of the credit-card processor’s stock after selling 115 shares during the quarter. Visa comprises 1.1% of Coastline Trust Co’s portfolio, making the stock its 20th biggest position. Coastline Trust Co’s holdings in Visa were worth $9,722,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of V. POM Investment Strategies LLC grew its position in shares of Visa by 970.0% during the second 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 in the last quarter. Reston Wealth Management LLC acquired a new position in shares of Visa in the 3rd quarter worth approximately $31,000. TruNorth Capital Management LLC increased its holdings in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Abich Financial Wealth Management LLC raised its position 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 acquiring an additional 46 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in Visa during the second quarter worth $35,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on V. Mizuho increased their price objective on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Macquarie increased their price target on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research report on Tuesday, September 3rd. Royal Bank of Canada increased their target price on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley lifted their price objective on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Price Performance

NYSE:V opened at $309.67 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. The company has a 50-day moving average of $287.04 and a 200-day moving average of $275.90. Visa Inc. has a 52 week low of $245.60 and a 52 week high of $312.44. The company has a market capitalization of $564.31 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 2.06 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.33 earnings per share. As a group, equities research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a $0.59 dividend. This is a positive change 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 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio is presently 24.25%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was 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 trade was a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

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.