Financial Gravity Asset Management Inc. Sells 171 Shares of Visa Inc. (NYSE:V)

Financial Gravity Asset Management Inc. trimmed its holdings in shares of Visa Inc. (NYSE:VGet Rating) by 9.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,602 shares of the credit-card processor’s stock after selling 171 shares during the quarter. Financial Gravity Asset Management Inc.’s holdings in Visa were worth $152,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. McClarren Financial Advisors Inc. acquired a new position in Visa in the 3rd quarter valued at $26,000. Aurora Private Wealth Inc. grew its position in shares of Visa by 7,648.7% in the second quarter. Aurora Private Wealth Inc. now owns 79,502 shares of the credit-card processor’s stock valued at $31,000 after purchasing an additional 78,476 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE bought a new position in shares of Visa in the second quarter worth about $35,000. Apeiron RIA LLC increased its stake in shares of Visa by 7.1% in the second quarter. Apeiron RIA LLC now owns 1,589 shares of the credit-card processor’s stock worth $40,000 after purchasing an additional 105 shares during the period. Finally, Investors Asset Management of Georgia Inc. GA ADV acquired a new position in shares of Visa during the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 81.87% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Citigroup cut their target price on shares of Visa from $254.00 to $238.00 and set a “buy” rating for the company in a research note on Wednesday, October 26th. Wells Fargo & Company lifted their target price on Visa from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 2nd. UBS Group lowered their price target on Visa from $290.00 to $287.00 and set a “buy” rating on the stock in a research note on Thursday, December 15th. Barclays raised their price objective on Visa from $264.00 to $266.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Raymond James lowered their price objective on Visa from $262.00 to $261.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $255.15.

Insider Activity at Visa

In related news, insider Rajat Taneja sold 25,627 shares of the company’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $216.67, for a total value of $5,552,602.09. Following the completion of the sale, the insider now owns 232,112 shares in the company, valued at approximately $50,291,707.04. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Rajat Taneja sold 25,627 shares of the business’s stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $216.67, for a total value of $5,552,602.09. Following the completion of the transaction, the insider now directly owns 232,112 shares in the company, valued at approximately $50,291,707.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Ryan Mcinerney sold 58,197 shares of the firm’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $62.47, for a total transaction of $3,635,566.59. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Visa Stock Performance

Visa stock opened at $224.18 on Tuesday. Visa Inc. has a 1 year low of $174.60 and a 1 year high of $235.85. The company’s 50-day moving average is $212.64 and its two-hundred day moving average is $204.50. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.61. The company has a market cap of $422.24 billion, a PE ratio of 32.07, a PEG ratio of 1.81 and a beta of 0.95.

Visa (NYSE:VGet Rating) last posted its quarterly earnings results on Tuesday, October 25th. The credit-card processor reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.07. Visa had a return on equity of 48.56% and a net margin of 51.03%. The company had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.55 billion. Equities analysts anticipate that Visa Inc. will post 8.29 earnings per share for the current year.

Visa Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Friday, December 16th were paid a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Thursday, December 15th. Visa’s payout ratio is 25.75%.

Visa declared that its board has authorized a share repurchase program on Tuesday, October 25th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the credit-card processor to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

About Visa

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Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).

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Institutional Ownership by Quarter for Visa (NYSE:V)

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