Keyvantage Wealth LLC Sells 229 Shares of Visa Inc. $V

Keyvantage Wealth LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 17.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,072 shares of the credit-card processor’s stock after selling 229 shares during the quarter. Keyvantage Wealth LLC’s holdings in Visa were worth $381,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in V. Keystone Global Partners LLC bought a new position in Visa in the first quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa in the second quarter valued at about $28,000. Harbor Asset Planning Inc. bought a new stake in shares of Visa during the 2nd quarter worth about $29,000. Cranbrook Wealth Management LLC boosted its holdings in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares during the period. Finally, Hoese & Co LLP bought a new position in shares of Visa during the second quarter worth approximately $36,000. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Visa stock opened at $329.89 on Friday. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $604.63 billion, a P/E ratio of 32.31, a P/E/G ratio of 2.03 and a beta of 0.87. The business has a 50 day moving average of $342.16 and a 200-day moving average of $348.64.

Visa (NYSE:V) last released its quarterly 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 firm had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.71 earnings per share. On average, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is presently 26.25%.

Wall Street Analyst Weigh In

V has been the subject of a number of research reports. Wells Fargo & Company raised Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Raymond James Financial reissued an “outperform” rating and issued a $408.00 price objective (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. UBS Group set a $425.00 target price on shares of Visa and gave the stock a “buy” rating in a report on Wednesday, October 29th. Macquarie decreased their price target on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Finally, Citigroup upgraded shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Four 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $400.00.

Insider Buying and Selling at Visa

In other news, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction that occurred 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 owned 2,468 shares in the company, valued at approximately $830,432.64. The trade was a 26.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction 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. In the last quarter, insiders have sold 23,897 shares of company stock worth $8,164,561. Insiders own 0.13% of the company’s stock.

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.