Thrivent Financial for Lutherans Sells 1,508 Shares of Visa Inc. (NYSE:V)

Thrivent Financial for Lutherans trimmed its holdings in Visa Inc. (NYSE:V) by 0.7% during the second quarter, Holdings Channel reports. The institutional investor owned 216,598 shares of the credit-card processor’s stock after selling 1,508 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Visa were worth $56,851,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Hilltop National Bank bought a new position in shares of Visa during the first quarter valued at about $1,212,000. Absolute Capital Management LLC bought a new position in shares of Visa during the first quarter valued at about $404,000. Davidson Capital Management Inc. lifted its position in shares of Visa by 0.5% during the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after purchasing an additional 44 shares in the last quarter. Empirical Finance LLC increased its holdings in Visa by 4.4% during the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after buying an additional 1,914 shares during the last quarter. Finally, Arjuna Capital increased its holdings in Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after buying an additional 96 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on V. Compass Point began coverage on shares of Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective for the company. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Evercore ISI decreased their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. William Blair upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada decreased their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.22.

Visa Price Performance

Shares of NYSE:V opened at $284.77 on Monday. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $293.07. The stock has a market cap of $520.83 billion, a P/E ratio of 31.82, a P/E/G ratio of 2.05 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $270.65 and a 200 day moving average of $273.40.

Visa (NYSE:V) last announced 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. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same period in the previous year, the business posted $2.16 earnings per share. Visa’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, sell-side analysts forecast that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.52 per share. 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 payout ratio is presently 23.24%.

Insider Buying and Selling at Visa

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

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.