Stiles Financial Services Inc Cuts Stock Position in Visa Inc. $V

Stiles Financial Services Inc lessened its position in Visa Inc. (NYSE:V) by 7.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 9,440 shares of the credit-card processor’s stock after selling 806 shares during the quarter. Visa accounts for approximately 1.2% of Stiles Financial Services Inc’s portfolio, making the stock its 21st biggest position. Stiles Financial Services Inc’s holdings in Visa were worth $3,352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of V. Keystone Global Partners LLC purchased a new stake in shares of Visa in the 1st quarter valued at $26,000. von Borstel & Associates Inc. purchased a new stake in Visa during the 1st quarter worth about $27,000. Family Legacy Financial Solutions LLC purchased a new stake in Visa during the 2nd quarter worth about $28,000. Cranbrook Wealth Management LLC increased its holdings in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares during the period. Finally, 1 North Wealth Services LLC purchased a new stake in Visa during the 1st quarter worth about $38,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 price target on the stock. Barclays restated an “overweight” rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. UBS Group restated a “buy” rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Macquarie upped their price target on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Finally, Robert W. Baird set a $410.00 price target on Visa and gave the stock an “outperform” rating in a report on Monday, October 6th. One 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $389.00.

Visa Trading Down 0.2%

NYSE:V opened at $343.05 on Tuesday. The stock has a 50-day simple moving average of $343.79 and a 200-day simple moving average of $346.97. 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. Visa Inc. has a 1 year low of $277.99 and a 1 year 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.

Visa (NYSE:V) last released 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. The business had revenue of $10.17 billion during 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 business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.42 EPS. As a group, analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date of this dividend 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 23.05%.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was 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 of the company’s stock, valued at $183,815.10. 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 the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of 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 disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

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.