Gables Capital Management Inc. Sells 270 Shares of Visa Inc. $V

Gables Capital Management Inc. lessened its holdings in Visa Inc. (NYSE:V) by 2.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 11,446 shares of the credit-card processor’s stock after selling 270 shares during the period. Visa accounts for about 1.9% of Gables Capital Management Inc.’s portfolio, making the stock its 10th biggest position. Gables Capital Management Inc.’s holdings in Visa were worth $4,064,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Visa by 14.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock worth $159,523,000 after buying an additional 57,800 shares during the period. Precedent Wealth Partners LLC increased its holdings in Visa by 7.5% in the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock worth $564,000 after buying an additional 111 shares during the period. Consilium Wealth Advisory LLC acquired a new position in Visa in the 2nd quarter worth approximately $862,000. Iron Gate Global Advisors LLC increased its holdings in Visa by 5.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock worth $22,040,000 after buying an additional 3,484 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after buying an additional 955,392 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.1%

NYSE V opened at $345.82 on Friday. Visa Inc. has a 52 week low of $280.78 and a 52 week high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $344.73 and its 200-day simple moving average is $347.33. The firm has a market cap of $633.81 billion, a PE ratio of 33.77, a P/E/G ratio of 2.04 and a beta of 0.90.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the previous year, the firm earned $2.42 EPS. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s payout ratio is currently 23.05%.

Insider Transactions at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated 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 directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was 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 $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on V. Macquarie increased their price target on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Barclays reaffirmed an “overweight” rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. 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 research note on Wednesday, July 30th. Oppenheimer raised their price objective on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Finally, KeyCorp reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Visa in a research note on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average price target of $392.75.

About Visa

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.