Visa Inc. (NYSE:V) Shares Sold by Kolinsky Wealth Management LLC

Kolinsky Wealth Management LLC lessened its holdings in shares of Visa Inc. (NYSE:V) by 5.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,609 shares of the credit-card processor’s stock after selling 227 shares during the quarter. Visa makes up about 0.6% of Kolinsky Wealth Management LLC’s portfolio, making the stock its 21st biggest holding. Kolinsky Wealth Management LLC’s holdings in Visa were worth $992,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Arjuna Capital raised its holdings in shares of Visa by 0.8% during the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after acquiring an additional 96 shares during the period. Custom Index Systems LLC purchased a new position in shares of Visa during the 3rd quarter worth $731,000. Mechanics Bank Trust Department raised its holdings in shares of Visa by 8.0% during the 2nd quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock worth $8,520,000 after acquiring an additional 2,410 shares during the period. Chicago Capital LLC raised its holdings in shares of Visa by 5.2% during the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after acquiring an additional 20,023 shares during the period. Finally, FORA Capital LLC purchased a new position in shares of Visa during the 3rd quarter worth $7,987,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Oppenheimer reiterated an “outperform” rating and issued a $321.00 target price (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. Compass Point began coverage on Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target on the stock. Finally, BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research report on Tuesday, September 3rd. Four 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, Visa has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Trading Up 0.1 %

Shares of NYSE:V opened at $315.07 on Friday. Visa Inc. has a 52 week low of $252.14 and a 52 week high of $316.37. The company’s 50 day moving average is $292.09 and its two-hundred day 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. The company has a market cap of $586.94 billion, a PE ratio of 32.38, a P/E/G ratio of 2.11 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the firm posted $2.33 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is 24.25%.

Insider Activity at Visa

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

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.