Trust Asset Management LLC Lowers Stock Holdings in Visa Inc. (NYSE:V)

Trust Asset Management LLC lowered its position in shares of Visa Inc. (NYSE:V) by 2.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 18,376 shares of the credit-card processor’s stock after selling 376 shares during the period. Visa makes up 0.4% of Trust Asset Management LLC’s holdings, making the stock its 20th largest holding. Trust Asset Management LLC’s holdings in Visa were worth $5,052,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of V. Peterson Financial Group Inc. bought a new position in shares of Visa in the third quarter worth approximately $26,000. POM Investment Strategies LLC raised its position in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares in the last quarter. Reston Wealth Management LLC purchased a new position in Visa in the third quarter worth $31,000. TruNorth Capital Management LLC increased its stake in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Finally, Abich Financial Wealth Management LLC raised its position in Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after purchasing an additional 46 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Bank of America increased their price target on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Jefferies Financial Group boosted their price objective on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Finally, Compass Point started coverage on shares of Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Trading Up 0.8 %

Shares of V traded up $2.43 during trading hours on Monday, reaching $312.35. 747,115 shares of the company traded hands, compared to its average volume of 6,933,421. Visa Inc. has a 12 month low of $251.61 and a 12 month high of $313.66. The company has a market capitalization of $581.87 billion, a price-to-earnings ratio of 31.85, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95. The company’s fifty day moving average price is $289.52 and its two-hundred day moving average price is $277.34. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last posted 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 business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.33 EPS. Equities research analysts predict that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.76%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 24.25%.

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.