Visa Inc. $V Holdings Lessened by Channing Global Advisors LLC

Channing Global Advisors LLC reduced its position in Visa Inc. (NYSE:V) by 10.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 21,309 shares of the credit-card processor’s stock after selling 2,514 shares during the period. Visa accounts for about 4.9% of Channing Global Advisors LLC’s holdings, making the stock its 8th biggest holding. Channing Global Advisors LLC’s holdings in Visa were worth $7,566,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in V. Norges Bank acquired a new stake in shares of Visa in the second quarter valued at approximately $7,034,939,000. Nuveen LLC acquired a new position in shares of Visa in the 1st quarter valued at $3,518,533,000. Vanguard Group Inc. raised its position in Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after purchasing an additional 1,677,088 shares during the last quarter. Wellington Management Group LLP raised its position in Visa by 17.7% in the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after purchasing an additional 1,651,954 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Visa by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after purchasing an additional 1,067,631 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on V. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Morgan Stanley set a $398.00 price target on Visa and gave the company an “overweight” rating in a research report on Wednesday, October 29th. KeyCorp reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Visa in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $400.00.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $183,117. This trade represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the transaction, the insider directly owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This trade represents a 7.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 24,042 shares of company stock valued at $8,175,152 in the last ninety days. 0.13% of the stock is currently owned by company insiders.

Visa Price Performance

Shares of V opened at $334.67 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average is $339.68 and its two-hundred day moving average is $347.21. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The firm has a market capitalization of $609.67 billion, a PE ratio of 32.78, a P/E/G ratio of 1.98 and a beta of 0.87.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period last year, the firm earned $2.71 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s payout ratio is presently 26.25%.

Visa 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.