Visa Inc. $V Shares Sold by Jackson Wealth Management LLC

Jackson Wealth Management LLC trimmed its position in Visa Inc. (NYSE:V) by 90.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,339 shares of the credit-card processor’s stock after selling 12,960 shares during the period. Jackson Wealth Management LLC’s holdings in Visa were worth $459,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Cresta Advisors Ltd. acquired a new stake in Visa during the fourth quarter worth $26,000. Parvin Asset Management LLC lifted its stake in shares of Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 50 shares during the last quarter. Philadelphia Investment Partners LLC purchased a new position in shares of Visa during the 2nd quarter worth $29,000. Virtus Advisers LLC acquired a new stake in shares of Visa during the 2nd quarter worth about $33,000. Finally, RHL Group LLC purchased a new stake in Visa in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.6%

NYSE V opened at $379.17 on Tuesday. The firm’s fifty day moving average is $360.10 and its two-hundred day moving average is $331.83. Visa Inc. has a one year low of $293.89 and a one year high of $385.57. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $676.60 billion, a PE ratio of 32.24, a P/E/G ratio of 2.04 and a beta of 0.74.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.09. Visa had a return on equity of 67.68% and a net margin of 50.78%.The firm had revenue of $11.63 billion for the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter in the previous year, the firm posted $2.98 EPS. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. Analysts expect that Visa Inc. will post 13.16 earnings per share for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, August 11th. Visa’s dividend payout ratio is presently 22.79%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on V shares. Wolfe Research reiterated an “outperform” rating and set a $460.00 price target (up from $435.00) on shares of Visa in a research report on Tuesday, August 25th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $430.00 price target on shares of Visa in a research note on Wednesday, July 29th. JPMorgan Chase & Co. lifted their target price on Visa from $400.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. UBS Group reaffirmed a “buy” rating and set a $420.00 target price (up from $410.00) on shares of Visa in a research note on Wednesday, July 29th. Finally, Morgan Stanley restated an “overweight” rating and issued a $416.00 price target on shares of Visa in a research note on Wednesday, July 29th. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $416.62.

Insider Activity at Visa

In related news, insider Tullier Kelly Mahon sold 57,272 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $364.97, for a total value of $20,902,561.84. Following the sale, the insider directly owned 49,662 shares in the company, valued at $18,125,140.14. The trade was a 53.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at approximately $6,625,440. This trade represents a 9.92% 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. Insiders sold 96,634 shares of company stock valued at $34,537,016 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.