First Personal Financial Services Sells 250 Shares of Visa Inc. (NYSE:V)

First Personal Financial Services reduced its stake in Visa Inc. (NYSE:V) by 3.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,332 shares of the credit-card processor’s stock after selling 250 shares during the quarter. First Personal Financial Services’ holdings in Visa were worth $2,016,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Kerusso Capital Management LLC boosted its stake in shares of Visa by 6.4% in the third quarter. Kerusso Capital Management LLC now owns 10,146 shares of the credit-card processor’s stock valued at $2,790,000 after buying an additional 611 shares during the period. Oxbow Advisors LLC lifted its stake in Visa by 0.8% during the third quarter. Oxbow Advisors LLC now owns 41,173 shares of the credit-card processor’s stock worth $11,321,000 after purchasing an additional 330 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV lifted its stake in Visa by 3.6% during the third quarter. Acorn Financial Advisory Services Inc. ADV now owns 2,243 shares of the credit-card processor’s stock worth $617,000 after purchasing an additional 78 shares during the last quarter. Objective Capital Management LLC bought a new stake in Visa during the third quarter worth $210,000. Finally, TCTC Holdings LLC lifted its stake in Visa by 3.9% during the third quarter. TCTC Holdings LLC now owns 29,363 shares of the credit-card processor’s stock worth $8,073,000 after purchasing an additional 1,113 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on 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 directly owns 538 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. William Blair upgraded Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. upped their target price on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. BMO Capital Markets upped their target price on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped their target price on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, TD Cowen increased their price target on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $321.74.

Visa Stock Up 0.7 %

Shares of NYSE V opened at $307.87 on Friday. The firm has a market cap of $561.03 billion, a PE ratio of 31.64, a P/E/G ratio of 2.06 and a beta of 0.95. Visa Inc. has a 12-month low of $240.97 and a 12-month high of $311.15. The company’s fifty day simple moving average is $283.95 and its 200 day simple moving average is $274.67. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

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

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is 21.38%.

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.