AGF Investments LLC Has $918,000 Stake in Visa Inc. (NYSE:V)

AGF Investments LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 7.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,122 shares of the credit-card processor’s stock after selling 331 shares during the period. AGF Investments LLC’s holdings in Visa were worth $918,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. King Luther Capital Management Corp increased its holdings in Visa by 2.5% during the 2nd quarter. King Luther Capital Management Corp now owns 957,489 shares of the credit-card processor’s stock valued at $223,880,000 after purchasing an additional 23,429 shares in the last quarter. Spearhead Capital Advisors LLC increased its holdings in Visa by 29.6% during the 3rd quarter. Spearhead Capital Advisors LLC now owns 87,642 shares of the credit-card processor’s stock valued at $19,522,000 after purchasing an additional 19,992 shares in the last quarter. HCR Wealth Advisors increased its holdings in Visa by 1.7% during the 3rd quarter. HCR Wealth Advisors now owns 36,784 shares of the credit-card processor’s stock valued at $8,194,000 after purchasing an additional 626 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in Visa by 186.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 241,183 shares of the credit-card processor’s stock valued at $56,393,000 after purchasing an additional 157,132 shares in the last quarter. Finally, New England Asset Management Inc. increased its holdings in Visa by 645.0% during the 2nd quarter. New England Asset Management Inc. now owns 7,450 shares of the credit-card processor’s stock valued at $1,742,000 after purchasing an additional 6,450 shares in the last quarter. 80.83% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on V shares. Raymond James lifted their target price on Visa from $263.00 to $265.00 and gave the company an “outperform” rating in a research note on Tuesday. Royal Bank of Canada lowered their target price on Visa from $297.00 to $284.00 and set an “outperform” rating for the company in a research note on Wednesday, October 27th. Morgan Stanley lowered their target price on Visa from $282.00 to $280.00 and set an “overweight” rating for the company in a research note on Wednesday, October 27th. Citigroup lowered their target price on Visa from $288.00 to $285.00 and set a “buy” rating for the company in a research note on Thursday, October 28th. Finally, Mizuho cut Visa from a “buy” rating to a “neutral” rating and lowered their target price for the company from $255.00 to $220.00 in a research note on Friday, January 7th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, Visa has an average rating of “Buy” and a consensus price target of $265.58.

V opened at $214.67 on Friday. The business’s 50-day moving average price is $210.42 and its two-hundred day moving average price is $224.11. Visa Inc. has a 1 year low of $190.10 and a 1 year high of $252.67. The company has a market capitalization of $413.31 billion, a price-to-earnings ratio of 38.13, a P/E/G ratio of 1.89 and a beta of 0.97. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.75 and a quick ratio of 1.75.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 26th. The credit-card processor reported $1.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.09. The firm had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.51 billion. Visa had a return on equity of 37.62% and a net margin of 51.07%. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter last year, the business posted $1.12 EPS. Sell-side analysts anticipate that Visa Inc. will post 7.02 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 7th. Investors of record on Friday, November 12th were given a $0.375 dividend. The ex-dividend date was Wednesday, November 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.70%. This is an increase from Visa’s previous quarterly dividend of $0.32. Visa’s payout ratio is currently 26.64%.

In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 30th. The stock was sold at an average price of $195.27, for a total transaction of $1,757,430.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Ryan Mcinerney sold 11,193 shares of the business’s stock in a transaction that occurred on Thursday, December 9th. The stock was sold at an average price of $210.00, for a total value of $2,350,530.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,386 shares of company stock worth $8,362,931. 0.21% of the stock is owned by company insiders.

About Visa

Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global automated teller machine (ATM).

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Institutional Ownership by Quarter for Visa (NYSE:V)

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