Schaper Benz & Wise Investment Counsel Inc. WI Sells 5,358 Shares of Visa Inc. $V

Schaper Benz & Wise Investment Counsel Inc. WI cut its stake in Visa Inc. (NYSE:V) by 7.7% in the second quarter, HoldingsChannel reports. The fund owned 64,301 shares of the credit-card processor’s stock after selling 5,358 shares during the period. Visa accounts for 1.8% of Schaper Benz & Wise Investment Counsel Inc. WI’s holdings, making the stock its 18th largest position. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Visa were worth $22,830,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of V. Bleakley Financial Group LLC raised its position in Visa by 13.2% in the 2nd quarter. Bleakley Financial Group LLC now owns 59,167 shares of the credit-card processor’s stock worth $21,007,000 after purchasing an additional 6,880 shares during the last quarter. Strategic Blueprint LLC boosted its position in Visa by 7.3% in the 2nd quarter. Strategic Blueprint LLC now owns 23,690 shares of the credit-card processor’s stock valued at $8,411,000 after buying an additional 1,606 shares during the last quarter. Principle Wealth Partners LLC increased its stake in shares of Visa by 5.1% in the 2nd quarter. Principle Wealth Partners LLC now owns 39,437 shares of the credit-card processor’s stock valued at $14,002,000 after buying an additional 1,908 shares during the period. Prosperity Financial Group Inc. raised its position in shares of Visa by 18.3% during the second quarter. Prosperity Financial Group Inc. now owns 6,458 shares of the credit-card processor’s stock worth $2,293,000 after acquiring an additional 997 shares during the last quarter. Finally, Sonata Capital Group Inc. lifted its stake in shares of Visa by 5.9% during the second quarter. Sonata Capital Group Inc. now owns 1,321 shares of the credit-card processor’s stock valued at $469,000 after acquiring an additional 74 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

Shares of Visa stock opened at $347.34 on Friday. The stock’s fifty day simple moving average is $344.79 and its 200 day simple moving average is $347.87. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $636.60 billion, a PE ratio of 33.92, a PEG ratio of 2.05 and a beta of 0.90. Visa Inc. has a 12 month low of $280.78 and a 12 month high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the prior year, the company earned $2.42 earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio is 23.05%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Raymond James Financial reissued an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Robert W. Baird set a $410.00 price target on shares of Visa and gave the stock an “outperform” rating in a research report on Monday, October 6th. Barclays restated an “overweight” rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Macquarie raised their price objective on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Finally, Citigroup upgraded shares of Visa to a “strong-buy” rating in a research report on Thursday. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $392.75.

Insider Buying and Selling at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

About Visa

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.