Visa Inc. (NYSE:V) Shares Sold by Mcmorgan & Co. LLC

Mcmorgan & Co. LLC trimmed its stake in shares of Visa Inc. (NYSE:V) by 16.0% in the second quarter, Holdings Channel reports. The fund owned 3,208 shares of the credit-card processor’s stock after selling 610 shares during the period. Mcmorgan & Co. LLC’s holdings in Visa were worth $842,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in V. Daymark Wealth Partners LLC boosted its holdings in shares of Visa by 5.5% in the second quarter. Daymark Wealth Partners LLC now owns 174,559 shares of the credit-card processor’s stock valued at $45,817,000 after acquiring an additional 9,164 shares in the last quarter. Dimension Capital Management LLC raised its holdings in Visa by 18.8% during the second quarter. Dimension Capital Management LLC now owns 3,709 shares of the credit-card processor’s stock worth $974,000 after purchasing an additional 587 shares in the last quarter. Delta Investment Management LLC lifted its position in Visa by 8.9% in the second quarter. Delta Investment Management LLC now owns 7,908 shares of the credit-card processor’s stock valued at $2,076,000 after purchasing an additional 648 shares during the period. Drucker Wealth 3.0 LLC purchased a new stake in Visa in the 2nd quarter valued at approximately $2,525,000. Finally, Dundas Partners LLP increased its position in Visa by 3.4% during the 2nd quarter. Dundas Partners LLP now owns 147,604 shares of the credit-card processor’s stock worth $38,741,000 after purchasing an additional 4,899 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The shares were 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 owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

V has been the topic of a number of analyst reports. Citigroup decreased 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. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 price objective on shares of Visa in a report on Thursday, September 12th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Macquarie reissued an “outperform” rating and set a $300.00 price target on shares of Visa in a research note on Wednesday, July 24th. Finally, Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a report on Tuesday. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus target price of $310.22.

Visa Stock Performance

Visa stock opened at $271.69 on Friday. 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 Inc. has a one year low of $227.78 and a one year high of $293.07. The stock’s 50 day moving average price is $271.07 and its 200 day moving average price is $273.40. The firm has a market capitalization of $496.90 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share 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 the consensus estimate of $8.92 billion. During the same period in the prior year, the firm earned $2.16 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is currently 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.