Optimum Investment Advisors Sells 377 Shares of Visa Inc. (NYSE:V)

Optimum Investment Advisors lowered its position in shares of Visa Inc. (NYSE:V) by 9.0% during the third quarter, HoldingsChannel reports. The fund owned 3,825 shares of the credit-card processor’s stock after selling 377 shares during the quarter. Optimum Investment Advisors’ holdings in Visa were worth $1,052,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in V. Westend Capital Management LLC bought a new stake in shares of Visa in the 1st quarter valued at about $25,000. POM Investment Strategies LLC grew its position 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 buying an additional 97 shares during the last quarter. TruNorth Capital Management LLC grew its position in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC bought a new stake in shares of Visa during the 2nd quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Visa during the 2nd quarter valued at about $35,000. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In other 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 completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

V has been the topic of several research analyst reports. Morgan Stanley restated an “overweight” rating and set a $322.00 target price on shares of Visa in a research report on Wednesday, September 25th. Oppenheimer assumed coverage on Visa in a research report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 target price on the stock. Citigroup dropped their price target on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Evercore ISI dropped their price target on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.19.

Visa Stock Performance

Shares of Visa stock opened at $290.38 on Friday. The company has a market cap of $531.09 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07. The business has a 50 day moving average price of $276.30 and a 200-day moving average price of $272.86. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.16 earnings per share. Equities analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

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.