Hanson & Doremus Investment Management Sells 1,615 Shares of Visa Inc. $V

Hanson & Doremus Investment Management decreased its holdings in shares of Visa Inc. (NYSE:V) by 7.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,427 shares of the credit-card processor’s stock after selling 1,615 shares during the period. Visa makes up about 0.9% of Hanson & Doremus Investment Management’s portfolio, making the stock its 19th largest position. Hanson & Doremus Investment Management’s holdings in Visa were worth $6,973,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after acquiring an additional 1,461,575 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Visa by 2.5% in the second 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 last quarter. Norges Bank bought a new position in shares of Visa in the second quarter valued at approximately $7,034,939,000. TCI Fund Management Ltd. lifted its holdings in shares of Visa by 14.6% in the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after purchasing an additional 2,429,996 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Visa by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after buying an additional 955,392 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Up 0.4%

NYSE V opened at $354.78 on Friday. The stock has a market capitalization of $646.31 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 2.09 and a beta of 0.82. Visa Inc. has a one year low of $299.00 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. The business’s fifty day moving average is $338.34 and its 200-day moving average is $344.40.

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

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were paid 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 was Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is 26.25%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on V shares. Hsbc Global Res raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Evercore ISI set a $380.00 target price on shares of Visa in a research note on Friday, December 12th. Citigroup upgraded shares of Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $402.52.

Insider Transactions at Visa

In other Visa news, Director Lloyd Carney sold 900 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the transaction, the director directly owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the chief executive officer directly 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 SEC filing for this sale provides additional information. Insiders sold a total of 24,042 shares of company stock worth $8,175,152 in the last quarter. Insiders own 0.12% of the company’s stock.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.