Intrepid Financial Planning Group LLC Decreases Stock Holdings in Visa Inc. $V

Intrepid Financial Planning Group LLC cut its stake in Visa Inc. (NYSE:V) by 7.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 10,304 shares of the credit-card processor’s stock after selling 814 shares during the quarter. Visa makes up approximately 1.5% of Intrepid Financial Planning Group LLC’s portfolio, making the stock its 17th biggest holding. Intrepid Financial Planning Group LLC’s holdings in Visa were worth $3,658,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 537 shares in the company, valued at $183,117. This represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the transaction, the director directly owned 2,468 shares in the company, valued at $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,870 shares of company stock valued at $7,467,233 over the last three months. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Down 1.5%

Shares of V opened at $320.78 on Wednesday. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The company has a market capitalization of $584.37 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 1.97 and a beta of 0.87. The stock has a fifty day moving average of $341.36 and a two-hundred day moving average of $348.40. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the business posted $2.71 earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, analysts forecast 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 issued a $0.67 dividend. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is 26.25%.

Analyst Ratings Changes

A number of brokerages have issued reports on V. Barclays restated an “overweight” rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Citigroup upgraded Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Raymond James Financial reiterated an “outperform” rating and set a $408.00 target price (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. Macquarie dropped their price target on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Finally, Morgan Stanley set a $398.00 price objective on Visa and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Company 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.