Duff & Phelps Investment Management Co. Sells 14,733 Shares of Visa Inc. (NYSE:V)

Duff & Phelps Investment Management Co. lowered its stake in shares of Visa Inc. (NYSE:V) by 80.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,628 shares of the credit-card processor’s stock after selling 14,733 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Visa were worth $952,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Brio Consultants LLC boosted its stake in shares of Visa by 39.1% in the 4th quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock valued at $405,000 after purchasing an additional 437 shares during the last quarter. Gilbert & Cook Inc. increased its holdings in Visa by 2.9% during the 4th quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock worth $1,466,000 after purchasing an additional 158 shares in the last quarter. Aveo Capital Partners LLC raised its stake in shares of Visa by 9.2% in the 4th quarter. Aveo Capital Partners LLC now owns 2,802 shares of the credit-card processor’s stock valued at $730,000 after purchasing an additional 235 shares during the period. 9258 Wealth Management LLC lifted its holdings in shares of Visa by 20.8% in the fourth quarter. 9258 Wealth Management LLC now owns 8,043 shares of the credit-card processor’s stock valued at $2,094,000 after purchasing an additional 1,387 shares in the last quarter. Finally, J. W. Coons Advisors LLC grew its holdings in shares of Visa by 1.2% during the fourth quarter. J. W. Coons Advisors LLC now owns 9,446 shares of the credit-card processor’s stock worth $2,459,000 after buying an additional 108 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 1.3 %

Shares of NYSE V opened at $275.17 on Monday. The company’s fifty day simple moving average is $271.31 and its 200 day simple moving average is $273.19. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $293.07. The firm has a market cap of $503.27 billion, a PE ratio of 30.75, a P/E/G ratio of 1.92 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to the consensus estimate 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 previous year, the company posted $2.16 earnings per share. As a group, sell-side analysts forecast that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on V shares. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada decreased their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $310.22.

Insider Activity

In related 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 directly owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

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.