Evermay Wealth Management LLC Sells 340 Shares of Visa Inc. (NYSE:V)

Evermay Wealth Management LLC lessened its holdings in Visa Inc. (NYSE:V) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,273 shares of the credit-card processor’s stock after selling 340 shares during the quarter. Evermay Wealth Management LLC’s holdings in Visa were worth $2,825,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Highline Wealth Partners LLC acquired a new position in Visa in the third quarter valued at about $54,000. Trajan Wealth LLC raised its stake in Visa by 4.4% in the third quarter. Trajan Wealth LLC now owns 67,812 shares of the credit-card processor’s stock valued at $18,645,000 after purchasing an additional 2,850 shares in the last quarter. WD Rutherford LLC raised its stake in Visa by 2.6% in the third quarter. WD Rutherford LLC now owns 16,037 shares of the credit-card processor’s stock valued at $4,409,000 after purchasing an additional 408 shares in the last quarter. Walter & Keenan Wealth Management LLC IN ADV raised its stake in Visa by 10.7% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 18,528 shares of the credit-card processor’s stock valued at $5,094,000 after purchasing an additional 1,786 shares in the last quarter. Finally, Childress Capital Advisors LLC raised its stake in Visa by 1.9% in the third quarter. Childress Capital Advisors LLC now owns 5,642 shares of the credit-card processor’s stock valued at $1,551,000 after purchasing an additional 103 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $289.89 on Friday. The business’s 50 day simple moving average is $280.53 and its 200 day simple moving average is $273.50. Visa Inc. has a one year low of $232.99 and a one year high of $296.34. The stock has a market capitalization of $528.27 billion, a PE ratio of 29.79, a PEG ratio of 2.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.33 earnings per share. As a group, research analysts forecast that Visa Inc. will post 11.12 earnings per share for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.81%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio is presently 21.38%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on V. Macquarie boosted their price target on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday. BMO Capital Markets boosted their target price on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Finally, Royal Bank of Canada boosted their target price on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $320.07.

Visa Company 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.