Visa Inc. $V Stake Cut by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC cut its holdings in shares of Visa Inc. (NYSE:V) by 8.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,030 shares of the credit-card processor’s stock after selling 2,034 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Visa were worth $7,961,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in V. AQR Capital Management LLC boosted its stake in shares of Visa by 1.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock worth $438,196,000 after acquiring an additional 21,401 shares in the last quarter. Precedent Wealth Partners LLC lifted its holdings in Visa by 7.5% in the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock worth $564,000 after purchasing an additional 111 shares during the last quarter. Baltimore Washington Financial Advisors Inc. boosted its position in Visa by 5.9% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock worth $33,783,000 after purchasing an additional 5,295 shares during the period. Consilium Wealth Advisory LLC acquired a new position in Visa during the second quarter valued at approximately $862,000. Finally, Iron Gate Global Advisors LLC grew its holdings in Visa by 5.9% during the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock valued at $22,040,000 after purchasing an additional 3,484 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Down 0.0%

Shares of V opened at $355.09 on Monday. The stock’s 50-day moving average price is $338.61 and its 200 day moving average price is $343.93. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $646.87 billion, a price-to-earnings ratio of 34.78, a P/E/G ratio of 2.09 and a beta of 0.82. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.01. The company had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.Visa’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.71 EPS. As a group, 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. Shareholders of record on Wednesday, November 12th were issued 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 yield of 0.8%. Visa’s payout ratio is presently 26.25%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Hsbc Global Res upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 8th. Raymond James Financial reaffirmed an “outperform” rating and issued a $408.00 price target (up from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. HSBC raised Visa from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $335.00 to $389.00 in a research report on Sunday, December 7th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Visa in a report on Wednesday, October 22nd. Five analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $402.52.

Insider Activity

In related news, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the transaction, the insider owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This represents a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,117. This represents a 95.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 24,042 shares of company stock worth $8,175,152. 0.12% of the stock is currently owned by corporate insiders.

Visa 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.