Visa Inc. $V Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lessened its holdings in shares of Visa Inc. (NYSE:VFree Report) by 22.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 235,458 shares of the credit-card processor’s stock after selling 69,284 shares during the quarter. Visa accounts for about 1.1% of iA Global Asset Management Inc.’s investment portfolio, making the stock its 21st largest holding. iA Global Asset Management Inc.’s holdings in Visa were worth $80,381,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Harbor Asset Planning Inc. acquired a new stake in shares of Visa in the second quarter worth $29,000. Sagard Holdings Management Inc. acquired a new position in shares of Visa during the 2nd quarter valued at $31,000. Bare Financial Services Inc boosted its position 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 period. Cranbrook Wealth Management LLC increased its holdings in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares in the last quarter. Finally, Hoese & Co LLP purchased a new position in Visa in the second quarter valued at about $36,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Visa stock opened at $325.97 on Friday. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. 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 has a market cap of $593.83 billion, a P/E ratio of 31.93, a price-to-earnings-growth ratio of 1.91 and a beta of 0.81. The stock has a 50 day moving average of $338.57 and a 200-day moving average of $342.71.

Visa (NYSE:VGet Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) 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 firm had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the prior year, the company posted $2.71 earnings per share. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. On average, analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently announced 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 was Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is currently 26.25%.

Insider Transactions at Visa

In other 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 transaction of $707,919.96. Following the transaction, the insider owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’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 completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,117. This represents a 95.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 24,042 shares of company stock valued at $8,247,289. Insiders own 0.12% of the company’s stock.

More Visa News

Here are the key news stories impacting Visa this week:

Wall Street Analyst Weigh In

V has been the subject of several analyst reports. Morgan Stanley set a $398.00 target price on Visa and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. HSBC upgraded Visa from a “hold” rating to a “buy” rating and upped their price target for the stock from $335.00 to $389.00 in a report on Sunday, December 7th. Robert W. Baird set a $425.00 price objective on shares of Visa in a research report on Wednesday, October 29th. Finally, Evercore ISI set a $380.00 target price on shares of Visa in a research report on Friday, December 12th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Visa currently has an average rating of “Buy” and a consensus price target of $401.52.

Check Out Our Latest Report on V

About Visa

(Free Report)

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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