Visa Inc. $V Shares Sold by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. reduced its position in shares of Visa Inc. (NYSE:V) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,312 shares of the credit-card processor’s stock after selling 164 shares during the period. Itau Unibanco Holding S.A.’s holdings in Visa were worth $2,241,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Keystone Global Partners LLC purchased a new position in shares of Visa in the 1st quarter valued at about $26,000. Family Legacy Financial Solutions LLC acquired a new stake in Visa during the second quarter worth approximately $28,000. Harbor Asset Planning Inc. purchased a new stake in shares of Visa during the 2nd quarter worth approximately $29,000. Cranbrook Wealth Management LLC boosted its holdings in shares of 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 buying an additional 41 shares in the last quarter. Finally, Hoese & Co LLP purchased a new position in shares of Visa in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In other Visa news, Director Lloyd Carney sold 900 shares of Visa stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the transaction, the director owned 2,468 shares in the company, valued at approximately $830,432.64. The trade was a 26.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 23,897 shares of company stock worth $8,164,561. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Robert W. Baird set a $425.00 price target on Visa in a research report on Wednesday, October 29th. Morgan Stanley set a $398.00 price objective on Visa and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Macquarie lowered their target price on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Stock Down 1.8%

V stock opened at $329.89 on Friday. The stock has a market capitalization of $604.63 billion, a PE ratio of 32.31, a price-to-earnings-growth ratio of 2.00 and a beta of 0.87. The company has a fifty day moving average of $342.16 and a 200-day moving average of $348.69. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a one year low of $299.00 and a one year high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter last year, the firm earned $2.71 earnings per share. The firm’s revenue was up 11.5% compared to the same quarter last year. As a group, analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a $0.67 dividend. The ex-dividend date is Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio (DPR) is currently 26.25%.

Visa Profile

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.