Highland Capital Management LLC Has $16.36 Million Stake in Visa Inc. $V

Highland Capital Management LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 30.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 47,929 shares of the credit-card processor’s stock after selling 20,545 shares during the quarter. Visa comprises approximately 0.8% of Highland Capital Management LLC’s investment portfolio, making the stock its 22nd largest position. Highland Capital Management LLC’s holdings in Visa were worth $16,362,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of V. Asio Capital LLC raised its position in shares of Visa by 5.8% in the 3rd quarter. Asio Capital LLC now owns 26,821 shares of the credit-card processor’s stock valued at $9,156,000 after acquiring an additional 1,473 shares during the period. Custos Family Office LLC increased its stake in Visa by 14.5% in the third quarter. Custos Family Office LLC now owns 1,304 shares of the credit-card processor’s stock valued at $445,000 after purchasing an additional 165 shares in the last quarter. Richards Merrill & Peterson Inc. raised its holdings in Visa by 0.4% in the third quarter. Richards Merrill & Peterson Inc. now owns 7,760 shares of the credit-card processor’s stock worth $2,649,000 after purchasing an additional 32 shares during the period. MBL Wealth LLC raised its holdings in Visa by 4.6% in the third quarter. MBL Wealth LLC now owns 5,280 shares of the credit-card processor’s stock worth $1,802,000 after purchasing an additional 233 shares during the period. Finally, Regent Peak Wealth Advisors LLC bought a new position in shares of Visa during the third quarter worth $1,803,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Down 0.0%

V stock opened at $355.09 on Friday. 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 stock has a market capitalization of $646.87 billion, a P/E ratio of 34.78, a P/E/G ratio of 2.09 and a beta of 0.82. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The business has a 50-day moving average of $338.61 and a 200-day moving average of $344.13.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating 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 analysts’ expectations of $10.60 billion. During the same quarter in the previous year, the business posted $2.71 EPS. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were issued a dividend of $0.67 per share. The ex-dividend date was Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio is currently 26.25%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on V shares. Bank of America raised shares of Visa from a “neutral” rating to a “buy” rating and set a $382.00 price target for the company in a report on Thursday, December 11th. KeyCorp reissued an “overweight” rating and issued a $405.00 target price on shares of Visa in a research note on Wednesday, October 22nd. Raymond James Financial restated an “outperform” rating and issued a $408.00 price target (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. Evercore ISI set a $380.00 price target on Visa in a research report on Friday, December 12th. Finally, Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Five analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Visa presently has an average rating of “Buy” and an average price target of $402.52.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,117. The trade was a 95.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the sale, the director directly owned 2,468 shares in the company, valued at $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 24,042 shares of company stock valued at $8,175,152. Corporate insiders own 0.12% of the company’s stock.

Visa Company Profile

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.