Tectonic Advisors LLC Decreases Stock Position in Visa Inc. $V

Tectonic Advisors LLC cut its holdings in Visa Inc. (NYSE:V) by 2.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,877 shares of the credit-card processor’s stock after selling 106 shares during the quarter. Tectonic Advisors LLC’s holdings in Visa were worth $1,376,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in V. Nuveen LLC acquired a new position in shares of Visa in the first quarter valued at about $3,518,533,000. Vanguard Group Inc. increased its holdings in shares of Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after purchasing an additional 1,677,088 shares during the period. Wellington Management Group LLP increased its holdings in shares of Visa by 17.7% in the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after purchasing an additional 1,651,954 shares during the period. MUFG Securities EMEA plc acquired a new position in shares of Visa in the first quarter valued at about $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Visa by 7.2% in the first 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 valued at $5,003,569,000 after purchasing an additional 955,392 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Down 1.0%

Visa stock opened at $343.63 on Monday. The firm has a market cap of $629.79 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90. Visa Inc. has a 52 week low of $275.37 and a 52 week high of $375.51. The business’s 50-day moving average price is $343.77 and its 200 day moving average price is $346.97. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating 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 company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period last year, the company earned $2.42 earnings per share. Visa’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued 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 dividend payout ratio (DPR) is presently 23.05%.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’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 value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade 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 accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $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 currently owned by company insiders.

Analyst Ratings Changes

V has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective on the stock. Macquarie increased their price objective on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Morgan Stanley increased their price objective on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Robert W. Baird set a $410.00 target price on Visa and gave the stock an “outperform” rating in a report on Monday, October 6th. Finally, Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $389.00.

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.