Forte Capital LLC ADV Sells 252 Shares of Visa Inc. (NYSE:V)

Forte Capital LLC ADV decreased its stake in Visa Inc. (NYSE:V) by 6.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,822 shares of the credit-card processor’s stock after selling 252 shares during the period. Forte Capital LLC ADV’s holdings in Visa were worth $1,051,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. POM Investment Strategies LLC lifted its stake in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC bought a new stake in Visa in the third quarter valued at approximately $31,000. TruNorth Capital Management LLC boosted its stake in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. Bbjs Financial Advisors LLC bought a new stake in Visa in the 2nd quarter worth $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Visa in the second quarter worth about $35,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Visa stock opened at $307.36 on Thursday. The company has a market cap of $560.11 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 1.96 and a beta of 0.95. Visa Inc. has a one year low of $240.97 and a one year high of $309.00. The business has a fifty day moving average of $282.69 and a two-hundred day moving average of $274.20. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28.

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

Visa Increases Dividend

The business also recently disclosed 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 an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Tuesday, November 12th. Visa’s payout ratio is currently 21.38%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Oppenheimer reissued an “outperform” rating and issued a $321.00 target price (up previously from $318.00) on shares of Visa in a research report on Wednesday, October 30th. Barclays upped their price target on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research report on Monday. Royal Bank of Canada increased their price objective on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Bank of America boosted their target price on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Finally, Macquarie increased their price target on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

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.