Geneva Capital Management LLC Reduces Holdings in Visa Inc. (NYSE:V)

Geneva Capital Management LLC reduced its position in Visa Inc. (NYSE:V) by 8.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 8,622 shares of the credit-card processor’s stock after selling 748 shares during the period. Geneva Capital Management LLC’s holdings in Visa were worth $2,371,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. KMG Fiduciary Partners LLC lifted its holdings in shares of Visa by 0.3% during the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after purchasing an additional 37 shares during the period. Iron Horse Wealth Management LLC increased its stake in shares of Visa by 15.9% during the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock worth $74,000 after acquiring an additional 37 shares during the period. Washington Trust Bank lifted its position in Visa by 1.1% in the third quarter. Washington Trust Bank now owns 3,258 shares of the credit-card processor’s stock valued at $896,000 after purchasing an additional 37 shares during the period. Proffitt & Goodson Inc. boosted its holdings in Visa by 20.3% in the 3rd quarter. Proffitt & Goodson Inc. now owns 219 shares of the credit-card processor’s stock valued at $60,000 after purchasing an additional 37 shares in the last quarter. Finally, Tlwm raised its stake in shares of Visa by 0.7% during the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after buying an additional 38 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Robert W. Baird lifted their price target on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Compass Point began coverage on shares of Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target for the company. Mizuho boosted their price objective on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. TD Cowen lifted their price target on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their price objective on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $321.74.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Visa Trading Down 0.2 %

Shares of V stock opened at $309.82 on Wednesday. The firm’s 50-day simple moving average is $284.64 and its 200-day simple moving average is $274.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. Visa Inc. has a 1-year low of $244.11 and a 1-year high of $312.44. The firm has a market cap of $564.59 billion, a P/E ratio of 31.84, a PEG ratio of 2.08 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.33 earnings per share. As a group, equities analysts forecast that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is 21.38%.

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.