Visa Inc. (NYSE:V) Stake Lowered by Profund Advisors LLC

Profund Advisors LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 2.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 28,039 shares of the credit-card processor’s stock after selling 812 shares during the period. Profund Advisors LLC’s holdings in Visa were worth $7,359,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Kowal Investment Group LLC lifted its stake in shares of Visa by 2.0% in the 2nd quarter. Kowal Investment Group LLC now owns 5,431 shares of the credit-card processor’s stock valued at $1,426,000 after purchasing an additional 109 shares during the last quarter. Merriman Wealth Management LLC raised its holdings in Visa by 3.6% during the second quarter. Merriman Wealth Management LLC now owns 1,524 shares of the credit-card processor’s stock valued at $400,000 after buying an additional 53 shares in the last quarter. Connecticut Wealth Management LLC lifted its position in shares of Visa by 2.7% in the second quarter. Connecticut Wealth Management LLC now owns 16,509 shares of the credit-card processor’s stock worth $4,333,000 after buying an additional 431 shares during the last quarter. Alaethes Wealth LLC boosted its stake in shares of Visa by 1.8% during the 2nd quarter. Alaethes Wealth LLC now owns 8,826 shares of the credit-card processor’s stock worth $2,317,000 after acquiring an additional 156 shares in the last quarter. Finally, Legacy Financial Advisors Inc. increased its holdings in shares of Visa by 4.2% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 12,757 shares of the credit-card processor’s stock valued at $3,348,000 after acquiring an additional 514 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on V. Compass Point assumed coverage on Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price for the company. Morgan Stanley decreased their price objective on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada cut their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Finally, TD Cowen lowered their price target on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.22.

Visa Price Performance

Shares of V stock opened at $284.77 on Friday. 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 stock’s fifty day simple moving average is $270.65 and its 200 day simple moving average is $273.45. Visa Inc. has a one year low of $227.78 and a one year high of $293.07. The firm has a market cap of $520.83 billion, a price-to-earnings ratio of 31.82, a P/E/G ratio of 2.05 and a beta of 0.96.

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

Visa Dividend Announcement

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

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.