Private Wealth Partners LLC Has $47.35 Million Position in Visa Inc. (NYSE:V)

Private Wealth Partners LLC cut its holdings in Visa Inc. (NYSE:V) by 12.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 172,204 shares of the credit-card processor’s stock after selling 24,784 shares during the period. Visa accounts for 3.8% of Private Wealth Partners LLC’s portfolio, making the stock its 6th largest holding. Private Wealth Partners LLC’s holdings in Visa were worth $47,348,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. WFA Asset Management Corp lifted its position in shares of Visa by 4.6% in the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after acquiring an additional 100 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Visa by 46.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock worth $14,046,000 after purchasing an additional 16,078 shares in the last quarter. Oak Ridge Investments LLC boosted its holdings in shares of Visa by 4.0% during the 1st quarter. Oak Ridge Investments LLC now owns 64,229 shares of the credit-card processor’s stock valued at $17,925,000 after purchasing an additional 2,459 shares during the last quarter. Klingman & Associates LLC lifted its position in shares of Visa by 1.1% in the first quarter. Klingman & Associates LLC now owns 3,717 shares of the credit-card processor’s stock worth $1,037,000 after buying an additional 39 shares in the last quarter. Finally, Centric Wealth Management boosted its stake in Visa by 4.4% during the first quarter. Centric Wealth Management now owns 18,270 shares of the credit-card processor’s stock valued at $4,908,000 after buying an additional 774 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V opened at $290.74 on Friday. The firm has a 50 day moving average of $281.00 and a 200 day moving average of $273.65. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $529.82 billion, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. Visa Inc. has a 52 week low of $239.20 and a 52 week high of $296.34.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the company posted $2.33 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, sell-side analysts predict that Visa Inc. will post 11.17 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.81%. The ex-dividend date is Tuesday, November 12th. Visa’s payout ratio is currently 21.38%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of several recent research reports. Bank of America upped their price objective on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Compass Point initiated coverage on shares of Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research report on Tuesday, September 3rd. Finally, Morgan Stanley lifted their target price on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $320.70.

Visa 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.