Capital Investment Counsel LLC Sells 79 Shares of Visa Inc. $V

Capital Investment Counsel LLC reduced its position in shares of Visa Inc. (NYSE:V) by 4.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,550 shares of the credit-card processor’s stock after selling 79 shares during the quarter. Capital Investment Counsel LLC’s holdings in Visa were worth $543,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its stake in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after purchasing an additional 4,817 shares during the period. Freestone Grove Partners LP acquired a new position in shares of Visa in the 4th quarter valued at $926,000. Gallagher Fiduciary Advisors LLC bought a new position in shares of Visa in the 4th quarter worth $258,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Visa by 1.3% during the fourth quarter. Ameriprise Financial Inc. now owns 12,796,415 shares of the credit-card processor’s stock worth $4,045,149,000 after purchasing an additional 164,008 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of V opened at $351.92 on Monday. The firm has a market cap of $645.00 billion, a P/E ratio of 34.37, a PEG ratio of 2.34 and a beta of 0.92. Visa Inc. has a twelve month low of $268.23 and a twelve month 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’s 50 day moving average price is $348.35 and its two-hundred day moving average price is $347.36.

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

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa’s payout ratio is 23.05%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Macquarie increased their target price on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. The Goldman Sachs Group started coverage on shares of Visa in a research report on Monday, June 2nd. They issued a “neutral” rating on the stock. Morgan Stanley boosted their price objective on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Oppenheimer increased their target price on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Finally, Raymond James Financial reissued an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $380.84.

Insider Transactions at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was 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 owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,507 shares of company stock valued at $25,213,475 over the last three months. Company insiders own 0.13% of the company’s stock.

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.