Mutual of America Capital Management LLC Sells 4,460 Shares of Visa Inc. $V

Mutual of America Capital Management LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 2.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,091 shares of the credit-card processor’s stock after selling 4,460 shares during the period. Visa accounts for about 0.8% of Mutual of America Capital Management LLC’s investment portfolio, making the stock its 13th largest position. Mutual of America Capital Management LLC’s holdings in Visa were worth $74,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Novare Capital Management LLC raised its position in shares of Visa by 0.6% during the second quarter. Novare Capital Management LLC now owns 35,071 shares of the credit-card processor’s stock valued at $12,452,000 after buying an additional 225 shares during the last quarter. Quotient Wealth Partners LLC raised its position in shares of Visa by 1.2% during the second quarter. Quotient Wealth Partners LLC now owns 10,421 shares of the credit-card processor’s stock valued at $3,700,000 after buying an additional 123 shares during the last quarter. Koshinski Asset Management Inc. raised its position in shares of Visa by 2.6% during the second quarter. Koshinski Asset Management Inc. now owns 8,917 shares of the credit-card processor’s stock valued at $3,166,000 after buying an additional 229 shares during the last quarter. Hoese & Co LLP bought a new stake in shares of Visa during the second quarter valued at approximately $36,000. Finally, Bell & Brown Wealth Advisors LLC raised its position in shares of Visa by 4.6% during the second quarter. Bell & Brown Wealth Advisors LLC now owns 949 shares of the credit-card processor’s stock valued at $337,000 after buying an additional 42 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.8%

V stock opened at $347.17 on Wednesday. The firm has a fifty day moving average price of $344.68 and a 200 day moving average price of $347.11. Visa Inc. has a fifty-two week low of $280.78 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $636.29 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 2.04 and a beta of 0.90.

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

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. 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 presently 23.05%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Macquarie lifted their price objective on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. Robert W. Baird set a $410.00 target price on shares of Visa and gave the company an “outperform” rating in a report on Monday, October 6th. Barclays reissued an “overweight” rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Finally, Morgan Stanley raised their target price on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $389.74.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on 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 transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. The trade was 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 insiders.

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.