TrinityPoint Wealth LLC Has $1.55 Million Stock Holdings in Visa Inc. (NYSE:V)

TrinityPoint Wealth LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 55.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,628 shares of the credit-card processor’s stock after selling 7,026 shares during the period. TrinityPoint Wealth LLC’s holdings in Visa were worth $1,547,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Arjuna Capital increased its stake in shares of Visa by 0.8% in the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after acquiring an additional 96 shares during the last quarter. Custom Index Systems LLC acquired a new position in Visa in the 3rd quarter worth about $731,000. Mechanics Bank Trust Department increased its position in Visa by 8.0% in the 2nd quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock worth $8,520,000 after purchasing an additional 2,410 shares during the last quarter. Chicago Capital LLC increased its holdings in Visa by 5.2% in the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after buying an additional 20,023 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft raised its position in Visa by 9.3% during the second quarter. Baader Bank Aktiengesellschaft now owns 58,655 shares of the credit-card processor’s stock valued at $15,299,000 after acquiring an additional 4,988 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

Shares of NYSE V opened at $309.64 on Monday. The firm has a market capitalization of $564.26 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.07 and a beta of 0.95. Visa Inc. has a one year low of $245.60 and a one year high of $312.44. The business has a fifty day simple moving average of $287.04 and a 200 day simple moving average of $276.01. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the prior year, the company posted $2.33 EPS. The business’s revenue was up 11.7% on a year-over-year basis. Sell-side analysts expect that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Insider Buying and Selling at Visa

In other Visa 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 completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. BMO Capital Markets upped their price target on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Mizuho increased their price target on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $321.74.

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.