Financiere des Professionnels Fonds d investissement inc. Sells 5,999 Shares of Visa Inc. $V

Financiere des Professionnels Fonds d investissement inc. reduced its position in shares of Visa Inc. (NYSE:V) by 10.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,051 shares of the credit-card processor’s stock after selling 5,999 shares during the period. Visa makes up approximately 1.0% of Financiere des Professionnels Fonds d investissement inc.’s investment portfolio, making the stock its 20th biggest position. Financiere des Professionnels Fonds d investissement inc.’s holdings in Visa were worth $17,086,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of V. Hedeker Wealth LLC raised its holdings in shares of Visa by 3.2% during the 3rd quarter. Hedeker Wealth LLC now owns 24,253 shares of the credit-card processor’s stock worth $8,279,000 after buying an additional 763 shares in the last quarter. Synergy Asset Management LLC grew its position in Visa by 6,203.4% in the third quarter. Synergy Asset Management LLC now owns 50,112 shares of the credit-card processor’s stock valued at $17,129,000 after acquiring an additional 49,317 shares during the last quarter. Commonwealth Financial Services LLC grew its position in Visa by 2.7% in the third quarter. Commonwealth Financial Services LLC now owns 3,014 shares of the credit-card processor’s stock valued at $1,029,000 after acquiring an additional 78 shares during the last quarter. Simon Quick Advisors LLC raised its stake in Visa by 32.0% during the third quarter. Simon Quick Advisors LLC now owns 3,249 shares of the credit-card processor’s stock worth $1,109,000 after acquiring an additional 787 shares in the last quarter. Finally, Bell Bank lifted its holdings in shares of Visa by 1.3% in the third quarter. Bell Bank now owns 15,863 shares of the credit-card processor’s stock worth $5,415,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction 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 trade represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at $183,117. This trade represents a 95.13% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 13,557 shares of company stock worth $4,586,137. Company insiders own 0.12% of the company’s stock.

Visa Stock Down 1.2%

Shares of V opened at $346.52 on Monday. The stock’s 50-day moving average price is $339.15 and its two-hundred day moving average price is $343.78. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51. The company has a market capitalization of $631.26 billion, a PE ratio of 33.94, a PEG ratio of 2.04 and a beta of 0.81. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last issued 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. The company had revenue of $10.72 billion during 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 business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.71 earnings per share. On average, analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is 26.25%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Hsbc Global Res raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 8th. Robert W. Baird set a $425.00 price objective on Visa in a research report on Wednesday, October 29th. Evercore ISI set a $380.00 target price on Visa in a research report on Friday, December 12th. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Macquarie lowered their price objective on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Five equities research 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 stock. According to data from MarketBeat.com, Visa presently has an average rating of “Buy” and an average target price of $402.52.

About Visa

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.