Argonautica Private Wealth Management Inc. Sells 255 Shares of Visa Inc. $V

Argonautica Private Wealth Management Inc. reduced its stake in shares of Visa Inc. (NYSE:V) by 2.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,989 shares of the credit-card processor’s stock after selling 255 shares during the period. Visa comprises 1.2% of Argonautica Private Wealth Management Inc.’s investment portfolio, making the stock its 18th biggest position. Argonautica Private Wealth Management Inc.’s holdings in Visa were worth $3,902,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. IMG Wealth Management Inc. grew its position in shares of Visa by 34.6% during the 2nd quarter. IMG Wealth Management Inc. now owns 634 shares of the credit-card processor’s stock valued at $225,000 after acquiring an additional 163 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in Visa by 1.6% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 206,779 shares of the credit-card processor’s stock worth $73,415,000 after buying an additional 3,325 shares during the period. Whittier Trust Co. boosted its holdings in Visa by 5.5% in the 2nd quarter. Whittier Trust Co. now owns 413,713 shares of the credit-card processor’s stock worth $146,884,000 after buying an additional 21,484 shares during the period. Lafayette Investments Inc. boosted its holdings in Visa by 2.6% in the 2nd quarter. Lafayette Investments Inc. now owns 8,184 shares of the credit-card processor’s stock worth $2,906,000 after buying an additional 205 shares during the period. Finally, Syntegra Private Wealth Group LLC boosted its holdings in Visa by 1.2% in the 2nd quarter. Syntegra Private Wealth Group LLC now owns 10,222 shares of the credit-card processor’s stock worth $3,629,000 after buying an additional 124 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

NYSE V opened at $345.82 on Friday. Visa Inc. has a 1 year low of $280.78 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $633.81 billion, a PE ratio of 33.77, a P/E/G ratio of 2.04 and a beta of 0.90. The company’s 50 day simple moving average is $344.73 and its two-hundred day simple moving average is $347.33.

Visa (NYSE:V) last posted its 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 net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same period in the prior year, the company posted $2.42 EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. Analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently commented on the stock. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a report on Wednesday. Raymond James Financial reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Robert W. Baird set a $410.00 price objective on shares of Visa and gave the stock an “outperform” rating in a report on Monday, October 6th. Finally, Morgan Stanley raised their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given 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 $392.75.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm’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 sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

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.