Visa Inc. $V Shares Sold by Northcape Wealth Management LLC

Northcape Wealth Management LLC cut its position in Visa Inc. (NYSE:V) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,146 shares of the credit-card processor’s stock after selling 188 shares during the period. Visa accounts for 1.5% of Northcape Wealth Management LLC’s holdings, making the stock its 16th largest position. Northcape Wealth Management LLC’s holdings in Visa were worth $5,023,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Keystone Global Partners LLC acquired a new stake in shares of Visa in the first quarter worth approximately $26,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa in the second quarter worth approximately $28,000. Harbor Asset Planning Inc. acquired a new stake in shares of Visa in the second quarter worth approximately $29,000. Cranbrook Wealth Management LLC boosted its stake in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares during the last quarter. Finally, Hoese & Co LLP acquired a new position in Visa during the second quarter worth $36,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

V stock opened at $340.00 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $623.15 billion, a PE ratio of 33.30, a P/E/G ratio of 2.01 and a beta of 0.87. Visa Inc. has a 12-month low of $291.58 and a 12-month high of $375.51. The business’s fifty day moving average price is $344.31 and its 200 day moving average price is $348.65.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.01. The firm had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.71 EPS. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio (DPR) is currently 23.11%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer owned 537 shares in the company, valued at $183,117. This represents a 95.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 22,997 shares of company stock worth $7,861,729. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on V. Citigroup raised Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research report on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price on the stock. Morgan Stanley set a $398.00 target price on Visa and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Robert W. Baird set a $425.00 target price on Visa in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

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.