Condor Capital Management Reduces Stake in Visa Inc. $V

Condor Capital Management lowered its stake in Visa Inc. (NYSE:V) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,974 shares of the credit-card processor’s stock after selling 644 shares during the quarter. Condor Capital Management’s holdings in Visa were worth $8,512,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of V. Truepoint Inc. boosted its position in shares of Visa by 4.1% in the second quarter. Truepoint Inc. now owns 2,050 shares of the credit-card processor’s stock valued at $728,000 after acquiring an additional 81 shares during the period. OmniStar Financial Group Inc. lifted its stake in Visa by 7.2% in the 2nd quarter. OmniStar Financial Group Inc. now owns 1,095 shares of the credit-card processor’s stock worth $389,000 after purchasing an additional 74 shares in the last quarter. Meridian Wealth Management LLC boosted its holdings in Visa by 1.2% in the 2nd quarter. Meridian Wealth Management LLC now owns 25,918 shares of the credit-card processor’s stock valued at $9,202,000 after purchasing an additional 316 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Visa by 6.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 419,629 shares of the credit-card processor’s stock valued at $148,989,000 after purchasing an additional 25,518 shares in the last quarter. Finally, Empower Advisory Group LLC grew its position in shares of Visa by 6.7% during the 2nd quarter. Empower Advisory Group LLC now owns 18,170 shares of the credit-card processor’s stock valued at $6,451,000 after purchasing an additional 1,134 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Visa

In related news, Director Lloyd Carney sold 900 shares of Visa stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the transaction, the director directly owned 2,468 shares of the company’s stock, valued at $830,432.64. The trade was a 26.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,117. The trade was a 95.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 23,897 shares of company stock worth $8,164,561. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on V. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating and set a $408.00 price objective (up previously from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Macquarie reduced their target price on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. KeyCorp restated an “overweight” rating and set a $405.00 price target on shares of Visa in a research report on Wednesday, October 22nd. Finally, Robert W. Baird set a $425.00 price objective on Visa in a report on Wednesday, October 29th. Four 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $400.00.

Visa Stock Performance

Visa stock opened at $329.89 on Friday. The firm has a fifty day simple moving average of $342.16 and a two-hundred day simple moving average of $348.64. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a market capitalization of $604.63 billion, a PE ratio of 32.31, a P/E/G ratio of 2.03 and a beta of 0.87.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The firm had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $2.71 earnings per share. Research analysts expect 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 paid a $0.67 dividend. This is an increase from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s payout ratio is presently 26.25%.

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.