Endeavor Private Wealth Inc. Reduces Holdings in Visa Inc. $V

Endeavor Private Wealth Inc. decreased its position in shares of Visa Inc. (NYSE:V) by 5.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,301 shares of the credit-card processor’s stock after selling 81 shares during the quarter. Endeavor Private Wealth Inc.’s holdings in Visa were worth $462,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after acquiring an additional 1,677,088 shares during the last quarter. Northern Trust Corp raised its stake in Visa by 4.0% during the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock valued at $6,654,189,000 after acquiring an additional 726,299 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Visa by 7.2% during 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 valued at $5,003,569,000 after acquiring an additional 955,392 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Visa by 3.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock valued at $4,442,157,000 after acquiring an additional 434,217 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Visa by 17.7% during the 1st 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 acquiring an additional 1,651,954 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

V opened at $343.05 on Tuesday. The stock has a market cap of $628.73 billion, a P/E ratio of 33.50, a P/E/G ratio of 2.03 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The stock’s 50 day simple moving average is $343.79 and its 200 day simple moving average is $346.97. Visa Inc. has a 1-year low of $277.99 and a 1-year high of $375.51.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.42 EPS. As a group, equities analysts anticipate 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 was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa’s dividend payout ratio is currently 23.05%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. The trade was a 95.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective for the company. Morgan Stanley lifted 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. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Macquarie lifted 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. Finally, Robert W. Baird set a $410.00 price objective on Visa and gave the company an “outperform” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus 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.