Alterna Wealth Management Inc. Sells 330 Shares of Visa Inc. (NYSE:V)

Alterna Wealth Management Inc. reduced its stake in shares of Visa Inc. (NYSE:V) by 7.9% in the third quarter, HoldingsChannel.com reports. The firm owned 3,847 shares of the credit-card processor’s stock after selling 330 shares during the period. Alterna Wealth Management Inc.’s holdings in Visa were worth $1,058,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of V. International Assets Investment Management LLC increased its stake in shares of Visa by 45,189.4% during the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after purchasing an additional 9,736,958 shares during the last quarter. SG Americas Securities LLC lifted its stake in Visa by 4,412.3% in the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after purchasing an additional 4,166,905 shares in the last quarter. National Bank of Canada FI boosted its stake in Visa by 787.1% during the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after buying an additional 4,099,122 shares during the period. Swedbank AB bought a new position in shares of Visa in the first quarter worth approximately $511,321,000. Finally, GQG Partners LLC raised its stake in Visa by 40.1% in the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after purchasing an additional 1,715,686 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on V. William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Citigroup lifted their price objective on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research report on Tuesday, September 3rd. Robert W. Baird lifted their target price on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Barclays boosted their target price on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $321.74.

Visa Stock Performance

Visa stock opened at $291.85 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. The firm’s fifty day moving average price is $281.47 and its 200 day moving average price is $273.80. The company has a market capitalization of $531.84 billion, a price-to-earnings ratio of 29.99, a price-to-earnings-growth ratio of 1.95 and a beta of 0.95. Visa Inc. has a 12-month low of $240.97 and a 12-month high of $296.34.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.33 earnings per share. On average, research analysts forecast that Visa Inc. will post 11.18 EPS for the current fiscal year.

Visa Increases Dividend

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

About Visa

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.