Visa Inc. $V Shares Sold by Cox Capital Mgt LLC

Cox Capital Mgt LLC cut its stake in Visa Inc. (NYSE:V) by 46.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,222 shares of the credit-card processor’s stock after selling 7,222 shares during the quarter. Visa makes up approximately 1.8% of Cox Capital Mgt LLC’s portfolio, making the stock its 21st largest holding. Cox Capital Mgt LLC’s holdings in Visa were worth $2,807,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Family Legacy Financial Solutions LLC purchased a new position in shares of Visa in the second quarter valued at approximately $28,000. Harbor Asset Planning Inc. acquired a new position in Visa in the 2nd quarter valued at $29,000. Sagard Holdings Management Inc. purchased a new position in Visa in the 2nd quarter valued at $31,000. Cranbrook Wealth Management LLC boosted its stake in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares during the last quarter. Finally, Bare Financial Services Inc boosted its stake in Visa by 287.0% during the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 66 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Up 0.5%

Shares of NYSE V opened at $346.09 on Friday. The company has a 50 day simple moving average of $337.37 and a 200-day simple moving average of $344.90. The company has a market capitalization of $630.49 billion, a P/E ratio of 33.90, a P/E/G ratio of 2.03 and a beta of 0.82. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The firm had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.71 earnings per share. On average, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were paid a $0.67 dividend. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio is currently 26.25%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $183,117. This represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the sale, the insider owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. This represents a 7.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 24,042 shares of company stock worth $8,175,152. 0.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. UBS Group set a $425.00 price objective on shares of Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. Robert W. Baird set a $425.00 target price on shares of Visa in a research note on Wednesday, October 29th. Macquarie dropped their price target on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Finally, Citigroup raised Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Five research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $402.52.

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.