HBW Advisory Services LLC Sells 3,618 Shares of Visa Inc. (NYSE:V)

HBW Advisory Services LLC lowered its holdings in shares of Visa Inc. (NYSE:V) by 19.3% in the third quarter, HoldingsChannel reports. The firm owned 15,165 shares of the credit-card processor’s stock after selling 3,618 shares during the period. HBW Advisory Services LLC’s holdings in Visa were worth $4,170,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Vanguard Group Inc. boosted its stake in Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after purchasing an additional 788,908 shares during the period. Capital International Investors grew its position in shares of Visa by 2.7% during the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after purchasing an additional 626,618 shares in the last quarter. Capital World Investors increased its holdings in shares of Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after purchasing an additional 968,008 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Visa by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after acquiring an additional 345,829 shares during the period. Finally, Legal & General Group Plc raised its stake in Visa by 2.2% in the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after purchasing an additional 312,286 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

V has been the subject of several research analyst reports. William Blair upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Citigroup lowered their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 price target on shares of Visa in a report on Thursday, September 12th. BMO Capital Markets boosted their price objective on Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, TD Cowen dropped their target price on Visa from $320.00 to $318.00 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-three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Visa has an average rating of “Moderate Buy” and an average target price of $312.04.

Visa Price Performance

Shares of V traded down $0.75 during midday trading on Friday, reaching $276.11. The stock had a trading volume of 2,217,906 shares, compared to its average volume of 7,191,151. The company has a market capitalization of $503.16 billion, a price-to-earnings ratio of 30.82, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. The company’s 50-day moving average is $272.63 and its 200 day moving average is $273.12. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 12-month low of $228.03 and a 12-month high of $293.07.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $8.92 billion. During the same period in the previous year, the firm earned $2.16 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is currently 23.24%.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s 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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

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.