Sanders Capital LLC Sells 105,610 Shares of Visa Inc. $V

Sanders Capital LLC lessened its stake in Visa Inc. (NYSE:V) by 3.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,076,760 shares of the credit-card processor’s stock after selling 105,610 shares during the quarter. Visa makes up about 1.5% of Sanders Capital LLC’s investment portfolio, making the stock its 22nd largest position. Sanders Capital LLC owned about 0.17% of Visa worth $1,092,404,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of V. Keystone Global Partners LLC purchased a new position in shares of Visa during the first quarter valued at about $26,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa in the second quarter worth about $28,000. Harbor Asset Planning Inc. bought a new position in Visa during the second quarter valued at approximately $29,000. Cranbrook Wealth Management LLC boosted its stake in Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 41 shares during the last quarter. Finally, Hoese & Co LLP purchased a new position in Visa during the 2nd quarter valued at approximately $36,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on V. Wells Fargo & Company raised Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Raymond James Financial reaffirmed an “outperform” rating and set a $408.00 price target (up previously from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Macquarie lowered their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Barclays reissued an “overweight” rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Stock Performance

Visa stock opened at $329.89 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The firm has a market capitalization of $604.63 billion, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 2.00 and a beta of 0.87. The company’s 50-day moving average is $342.16 and its 200 day moving average is $348.69.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.01. The business had revenue of $10.72 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $2.71 earnings per share. Research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a $0.67 dividend. This is a boost 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 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio is currently 26.25%.

Insider Buying and Selling at Visa

In other Visa news, Director Lloyd Carney sold 900 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the sale, the director owned 2,468 shares in the company, valued at $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The transaction 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 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 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 SEC filing for this sale provides additional information. Insiders have sold 23,897 shares of company stock valued at $8,164,561 in the last quarter. 0.13% of the stock is owned by insiders.

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.