1,988 Visa Inc. $V Shares Sold by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. decreased its stake in shares of Visa Inc. (NYSE:V) by 4.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,119 shares of the credit-card processor’s stock after selling 1,988 shares during the quarter. Visa makes up 1.5% of Cabot Wealth Management Inc.’s portfolio, making the stock its 19th largest position. Cabot Wealth Management Inc.’s holdings in Visa were worth $16,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in V. Ritholtz Wealth Management lifted its holdings in shares of Visa by 3.2% in the 3rd quarter. Ritholtz Wealth Management now owns 73,879 shares of the credit-card processor’s stock worth $26,547,000 after buying an additional 2,281 shares during the period. NBH Bank increased its stake in shares of Visa by 1.9% during the third quarter. NBH Bank now owns 7,219 shares of the credit-card processor’s stock valued at $2,594,000 after buying an additional 136 shares during the period. Joel Isaacson & Co. LLC increased its stake in shares of Visa by 2.7% during the third quarter. Joel Isaacson & Co. LLC now owns 11,094 shares of the credit-card processor’s stock valued at $3,987,000 after buying an additional 295 shares during the period. Jacobi Capital Management LLC increased its stake in shares of Visa by 0.3% during the third quarter. Jacobi Capital Management LLC now owns 16,432 shares of the credit-card processor’s stock valued at $5,905,000 after buying an additional 45 shares during the period. Finally, Valued Wealth Advisors LLC raised its holdings in shares of Visa by 15.1% in the third quarter. Valued Wealth Advisors LLC now owns 503 shares of the credit-card processor’s stock valued at $181,000 after acquiring an additional 66 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup upped their price objective on shares of Visa from $440.00 to $490.00 and gave the stock a “buy” rating in a research note on Tuesday. Clear Str upgraded shares of Visa to a “strong-buy” rating in a report on Thursday, July 16th. Weiss Ratings downgraded shares of Visa from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, October 28th. Wolfe Research restated an “outperform” rating and issued a $460.00 price target (up from $435.00) on shares of Visa in a report on Tuesday, August 25th. Finally, Morgan Stanley restated an “overweight” rating and issued a $471.00 price target (up from $416.00) on shares of Visa in a report on Wednesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating and thirty-five have issued a Buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $443.35.

Visa Price Performance

Shares of V opened at $425.56 on Thursday. The company has a market cap of $759.37 billion, a price-to-earnings ratio of 34.51, a price-to-earnings-growth ratio of 1.80 and a beta of 0.80. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $442.23. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $388.61 and a two-hundred day moving average of $346.16.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.04. The business had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.09 billion. Visa had a net margin of 51.20% and a return on equity of 70.50%. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.98 earnings per share. As a group, analysts predict that Visa Inc. will post 15.02 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 10th will be paid a dividend of $0.78 per share. This is a positive change from Visa’s previous quarterly dividend of $0.67. The ex-dividend date is Tuesday, November 10th. This represents a $3.12 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio (DPR) is presently 25.30%.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 5,875 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $367.87, for a total transaction of $2,161,236.25. Following the transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $5,582,059.38. This represents a 27.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie Rottenberg sold 2,028 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $381.35, for a total value of $773,377.80. Following the completion of the sale, the general counsel owned 18,404 shares of the company’s stock, valued at approximately $7,018,365.40. This trade represents a 9.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 29,262 shares of company stock worth $11,195,791. 0.12% of the stock is owned by company insiders.

Visa Profile

Visa Inc. operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online. The company’s services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.