Select Equity Group L.P. Sells 52,902 Shares of Visa Inc. (NYSE:V)

Select Equity Group L.P. lessened its stake in Visa Inc. (NYSE:V) by 4.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,036,198 shares of the credit-card processor’s stock after selling 52,902 shares during the quarter. Select Equity Group L.P. owned approximately 0.06% of Visa worth $271,971,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Livelsberger Financial Advisory bought a new position in shares of Visa in the fourth quarter worth about $25,000. Westend Capital Management LLC bought a new stake in shares of Visa during the first quarter valued at approximately $25,000. POM Investment Strategies LLC boosted its holdings in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. Frank Rimerman Advisors LLC bought a new position in Visa in the fourth quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC increased its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa 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 completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of V opened at $271.69 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a 50-day moving average of $271.12 and a two-hundred day moving average of $273.39. The stock has a market cap of $496.90 billion, a P/E ratio of 30.36, a P/E/G ratio of 1.92 and a beta of 0.96. Visa Inc. has a one year low of $227.78 and a one year high of $293.07.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the previous year, the company posted $2.16 earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year. As a group, research analysts predict that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s payout ratio is currently 23.24%.

Analysts Set New Price Targets

V has been the topic of a number of recent research reports. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a research report on Tuesday, September 3rd. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. TD Cowen lowered their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Citigroup cut their price objective 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, JPMorgan Chase & Co. upped their target price on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $310.22.

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.