Suncoast Equity Management Has $41.89 Million Holdings in Visa Inc. (NYSE:V)

Suncoast Equity Management lessened its position in shares of Visa Inc. (NYSE:V) by 5.9% in the third quarter, Holdings Channel reports. The fund owned 152,365 shares of the credit-card processor’s stock after selling 9,635 shares during the quarter. Visa comprises 4.8% of Suncoast Equity Management’s investment portfolio, making the stock its 9th biggest holding. Suncoast Equity Management’s holdings in Visa were worth $41,893,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of V. Vanguard Group Inc. grew its position in shares of Visa by 0.6% during 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 acquiring an additional 788,908 shares during the period. Capital International Investors grew its holdings in Visa by 2.7% during the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after purchasing an additional 626,618 shares during the period. Capital World Investors grew its holdings in Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after purchasing an additional 968,008 shares during the period. Ameriprise Financial Inc. increased its position in Visa by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after buying an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of 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 worth $3,783,857,000 after buying an additional 312,286 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction 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 in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Visa Trading Down 1.1 %

Shares of NYSE:V traded down $3.29 during trading hours on Monday, hitting $287.33. 1,237,192 shares of the company’s stock traded hands, compared to its average volume of 7,088,819. The business has a fifty day moving average price of $276.91 and a 200-day moving average price of $272.88. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market capitalization of $525.51 billion, a P/E ratio of 32.26, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96.

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, meeting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion during 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%. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.16 earnings per share. Equities analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders 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 annualized dividend and a dividend yield of 0.72%. Visa’s dividend payout ratio is currently 23.24%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on V. Oppenheimer began coverage on shares of Visa in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 price target for the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $322.00 target price on shares of Visa in a report on Wednesday, September 25th. JPMorgan Chase & Co. increased their price target on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Bank of America boosted their price objective on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Finally, Macquarie reiterated an “outperform” rating and set a $300.00 target price on shares of Visa in a research report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $314.19.

Visa 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.