Elgethun Capital Management Sells 498 Shares of Visa Inc. (NYSE:V)

Elgethun Capital Management lessened its stake in Visa Inc. (NYSE:V) by 11.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,989 shares of the credit-card processor’s stock after selling 498 shares during the quarter. Elgethun Capital Management’s holdings in Visa were worth $1,047,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in V. Livelsberger Financial Advisory acquired a new stake in Visa in the fourth quarter valued at $25,000. Westend Capital Management LLC acquired a new position in Visa during the first quarter worth approximately $25,000. POM Investment Strategies LLC raised its stake in Visa by 970.0% in the second 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 period. Frank Rimerman Advisors LLC bought a new position in shares of Visa during the 4th quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC increased its holdings in shares of 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 acquiring an additional 89 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

V has been the topic of several research analyst reports. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a report on Tuesday, September 3rd. Citigroup dropped their price objective on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Bank of America raised their price target on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Finally, Jefferies Financial Group dropped their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Six equities 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

Visa Trading Down 1.1 %

Shares of V stock opened at $269.84 on Thursday. The company has a market cap of $491.73 billion, a P/E ratio of 30.15, a PEG ratio of 2.04 and a beta of 0.96. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $293.07. The stock has a 50 day simple moving average of $271.12 and a two-hundred day simple moving average of $273.42. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. The business had revenue of $8.90 billion for 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%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.16 earnings per share. Research analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The firm 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 was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s dividend payout ratio is presently 23.24%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the 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 sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.19% of the stock is owned by 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.