BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Stock Holdings in Visa Inc. (NYSE:V)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in Visa Inc. (NYSE:V) by 15.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 501,660 shares of the credit-card processor’s stock after selling 89,576 shares during the quarter. Visa makes up about 0.8% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings, making the stock its 23rd largest position. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Visa were worth $137,931,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Keynote Financial Services LLC purchased a new stake in Visa in the first quarter valued at $237,000. Abich Financial Wealth Management LLC lifted its holdings in shares of Visa by 52.9% in the 1st 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 during the last quarter. Davis Capital Management lifted its holdings in shares of Visa by 1.5% in the 2nd quarter. Davis Capital Management now owns 6,439 shares of the credit-card processor’s stock valued at $1,695,000 after purchasing an additional 97 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Visa by 31.1% in the 2nd quarter. GAMMA Investing LLC now owns 28,422 shares of the credit-card processor’s stock valued at $7,460,000 after purchasing an additional 6,747 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its stake in Visa by 0.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 162,805 shares of the credit-card processor’s stock worth $42,731,000 after buying an additional 535 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Up 0.1 %

NYSE V opened at $315.07 on Friday. The stock has a market cap of $586.94 billion, a P/E ratio of 32.38, a PEG ratio of 2.11 and a beta of 0.95. The company’s fifty day simple moving average is $292.09 and its 200-day simple moving average is $278.56. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 52 week low of $252.14 and a 52 week high of $316.37.

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 business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the previous year, the firm posted $2.33 earnings per share. The company’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts predict that Visa Inc. will post 11.19 EPS 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 paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.75%. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is presently 24.25%.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction 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 represents a 94.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent research reports. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Bank of America lifted their target price on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Royal Bank of Canada boosted their target price on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Company 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.