Visa Inc. $V Shares Sold by Portside Wealth Group LLC

Portside Wealth Group LLC decreased its position in shares of Visa Inc. (NYSE:V) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,239 shares of the credit-card processor’s stock after selling 1,242 shares during the quarter. Visa makes up approximately 1.8% of Portside Wealth Group LLC’s holdings, making the stock its 7th largest holding. Portside Wealth Group LLC’s holdings in Visa were worth $12,156,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Inspire Advisors LLC raised its position in shares of Visa by 40.4% during the second quarter. Inspire Advisors LLC now owns 1,494 shares of the credit-card processor’s stock worth $531,000 after acquiring an additional 430 shares during the last quarter. United Advisor Group LLC boosted its holdings in Visa by 6.7% in the second quarter. United Advisor Group LLC now owns 6,304 shares of the credit-card processor’s stock valued at $2,238,000 after acquiring an additional 398 shares during the last quarter. First American Trust FSB increased its position in Visa by 0.4% in the second quarter. First American Trust FSB now owns 47,482 shares of the credit-card processor’s stock worth $16,860,000 after purchasing an additional 166 shares during the period. Empowered Funds LLC increased its position in Visa by 18.8% in the second quarter. Empowered Funds LLC now owns 101,434 shares of the credit-card processor’s stock worth $36,014,000 after purchasing an additional 16,068 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Visa by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after purchasing an additional 1,461,575 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on V shares. Raymond James Financial reiterated an “outperform” rating and set a $408.00 price target (up previously from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Barclays reaffirmed an “overweight” rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Robert W. Baird set a $425.00 price target on Visa in a research note on Wednesday, October 29th. Morgan Stanley set a $398.00 price objective on Visa and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, Macquarie cut 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. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

Insider Buying and Selling at Visa

In related news, Director Lloyd Carney sold 900 shares of the business’s 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 sale, the director directly owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. The trade was a 26.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,117. The trade was a 95.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,870 shares of company stock valued at $7,467,233 in the last three months. 0.13% of the stock is owned by insiders.

Visa Stock Performance

Shares of Visa stock opened at $325.64 on Tuesday. The stock’s fifty day simple moving average is $341.83 and its 200 day simple moving average is $348.59. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $593.24 billion, a PE ratio of 31.89, a PEG ratio of 2.00 and a beta of 0.87. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51.

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

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.