Visa Inc. $V Stake Cut by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its holdings in shares of Visa Inc. (NYSE:V) by 4.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 874,933 shares of the credit-card processor’s stock after selling 37,767 shares during the period. Visa comprises 1.3% of King Luther Capital Management Corp’s investment portfolio, making the stock its 14th biggest holding. King Luther Capital Management Corp’s holdings in Visa were worth $314,390,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Spectrum Planning & Advisory Services Inc. lifted its stake in shares of Visa by 13.2% in the third quarter. Spectrum Planning & Advisory Services Inc. now owns 1,519 shares of the credit-card processor’s stock valued at $546,000 after purchasing an additional 177 shares during the period. Maryland State Retirement & Pension System boosted its holdings in Visa by 16.7% during the third quarter. Maryland State Retirement & Pension System now owns 103,724 shares of the credit-card processor’s stock worth $37,271,000 after buying an additional 14,831 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in Visa by 3.2% during the third quarter. Ritholtz Wealth Management now owns 73,879 shares of the credit-card processor’s stock worth $26,547,000 after buying an additional 2,281 shares in the last quarter. NBH Bank boosted its holdings in Visa by 1.9% during the third quarter. NBH Bank now owns 7,219 shares of the credit-card processor’s stock worth $2,594,000 after buying an additional 136 shares in the last quarter. Finally, Joel Isaacson & Co. LLC grew its position in Visa by 2.7% during the third quarter. Joel Isaacson & Co. LLC now owns 11,094 shares of the credit-card processor’s stock worth $3,987,000 after buying an additional 295 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Up 0.6%

NYSE:V opened at $425.56 on Thursday. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $442.23. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $388.61 and a 200-day simple moving average of $346.16. The company has a market capitalization of $759.37 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 1.80 and a beta of 0.80.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 27th. The credit-card processor reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.04. The firm had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Visa had a net margin of 51.20% and a return on equity of 70.50%. The firm’s revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.98 EPS. On average, equities research analysts expect that Visa Inc. will post 15.02 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.78 per share. The ex-dividend date is Tuesday, November 10th. This is an increase from Visa’s previous quarterly dividend of $0.67. This represents a $3.12 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio (DPR) is presently 25.30%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 5,875 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $367.87, for a total value of $2,161,236.25. Following the sale, the chief executive officer directly owned 15,174 shares in the company, valued at $5,582,059.38. This represents a 27.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,028 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $381.35, for a total transaction of $773,377.80. Following the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at approximately $7,018,365.40. This trade represents a 9.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 29,262 shares of company stock valued at $11,195,791. 0.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on V. Citigroup increased their target price on shares of Visa from $440.00 to $490.00 and gave the company a “buy” rating in a report on Tuesday. Daiwa Securities Group lifted their price target on shares of Visa from $375.00 to $422.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Deutsche Bank reissued a “buy” rating and set a $430.00 price target on shares of Visa in a research note on Wednesday, July 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $500.00 price target (up from $445.00) on shares of Visa in a report on Wednesday, October 28th. Finally, Evercore set a $405.00 price objective on Visa in a research note on Wednesday, October 28th. Two analysts have rated the stock with a Strong Buy rating and thirty-five have given a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $443.35.

Visa Profile

Visa Inc. operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online. The company’s services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.