1832 Asset Management L.P. Sells 486,241 Shares of Visa Inc. (NYSE:V)

1832 Asset Management L.P. decreased its holdings in Visa Inc. (NYSE:V) by 11.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,641,319 shares of the credit-card processor’s stock after selling 486,241 shares during the quarter. Visa accounts for about 0.8% of 1832 Asset Management L.P.’s investment portfolio, making the stock its 9th largest position. 1832 Asset Management L.P.’s holdings in Visa were worth $955,737,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in V. Livelsberger Financial Advisory acquired a new position in Visa in the fourth quarter worth approximately $25,000. Westend Capital Management LLC purchased a new position in Visa during the 1st quarter worth approximately $25,000. POM Investment Strategies LLC grew its position in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new position in Visa during the 4th quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC grew its position in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 in the company, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of V opened at $284.77 on Friday. The company has a market capitalization of $520.83 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96. Visa Inc. has a one year low of $227.78 and a one year high of $293.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company’s fifty day moving average price is $270.65 and its 200 day moving average price is $273.45.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.16 EPS. As a group, analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.73%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on V shares. Evercore ISI lowered their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Compass Point started coverage on shares of Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective on the stock. Jefferies Financial Group lowered their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Citigroup decreased their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Six research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $310.22.

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.