Edgemoor Investment Advisors Inc. trimmed its position in shares of Visa Inc. (NYSE:V – Free Report) by 1.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 54,875 shares of the credit-card processor’s stock after selling 988 shares during the quarter. Visa comprises about 1.5% of Edgemoor Investment Advisors Inc.’s holdings, making the stock its 16th biggest holding. Edgemoor Investment Advisors Inc.’s holdings in Visa were worth $13,032,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cherrydale Wealth Management LLC raised its position in Visa by 4.0% in the second quarter. Cherrydale Wealth Management LLC now owns 1,108 shares of the credit-card processor’s stock worth $263,000 after acquiring an additional 43 shares during the period. ERTS Wealth Advisors LLC lifted its position in Visa by 3.0% during the second quarter. ERTS Wealth Advisors LLC now owns 1,478 shares of the credit-card processor’s stock valued at $351,000 after purchasing an additional 43 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC increased its position in Visa by 1.7% in the second quarter. Hutchens & Kramer Investment Management Group LLC now owns 2,684 shares of the credit-card processor’s stock worth $637,000 after buying an additional 44 shares in the last quarter. Eastover Investment Advisors LLC raised its stake in shares of Visa by 0.8% in the second quarter. Eastover Investment Advisors LLC now owns 5,402 shares of the credit-card processor’s stock worth $1,283,000 after buying an additional 44 shares during the period. Finally, Raab & Moskowitz Asset Management LLC increased its holdings in Visa by 0.4% in the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 10,752 shares of the credit-card processor’s stock worth $2,553,000 after acquiring an additional 44 shares in the last quarter. Institutional investors own 81.35% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on V shares. Raymond James upped their price target on shares of Visa from $284.00 to $287.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 25th. Mizuho boosted their price target on Visa from $240.00 to $243.00 and gave the stock a “neutral” rating in a report on Tuesday, October 31st. Jefferies Financial Group raised their price objective on Visa from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, July 19th. KeyCorp raised their target price on shares of Visa from $265.00 to $275.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Finally, Robert W. Baird restated an “outperform” rating and set a $284.00 price objective on shares of Visa in a research report on Thursday, September 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $275.67.
Insiders Place Their Bets
In other Visa news, Chairman Alfred F. Kelly, Jr. sold 40,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $236.14, for a total transaction of $9,445,600.00. Following the transaction, the chairman now owns 139,854 shares of the company’s stock, valued at approximately $33,025,123.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $247.47, for a total transaction of $2,016,880.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Alfred F. Kelly, Jr. sold 40,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $236.14, for a total transaction of $9,445,600.00. Following the completion of the sale, the chairman now owns 139,854 shares in the company, valued at approximately $33,025,123.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,100 shares of company stock valued at $17,368,639. Corporate insiders own 0.21% of the company’s stock.
Visa Price Performance
Shares of NYSE V opened at $247.03 on Tuesday. The firm has a market capitalization of $459.93 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 1.63 and a beta of 0.95. Visa Inc. has a fifty-two week low of $202.13 and a fifty-two week high of $250.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 1.45. The stock’s 50-day simple moving average is $238.28 and its 200-day simple moving average is $235.73.
Visa (NYSE:V – Get Free Report) last issued its quarterly earnings results on Tuesday, October 24th. The credit-card processor reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.10. The firm had revenue of $8.61 billion during the quarter, compared to analysts’ expectations of $8.56 billion. Visa had a net margin of 52.90% and a return on equity of 50.13%. Visa’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.93 EPS. As a group, equities research analysts forecast that Visa Inc. will post 9.9 EPS for the current fiscal year.
Visa Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Wednesday, November 8th. This is an increase from Visa’s previous quarterly dividend of $0.45. Visa’s dividend payout ratio is 25.09%.
Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.
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