Thomas Story & Son LLC Sells 1,495 Shares of Visa Inc. $V

Thomas Story & Son LLC cut its position in Visa Inc. (NYSE:V) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,378 shares of the credit-card processor’s stock after selling 1,495 shares during the period. Visa accounts for 6.2% of Thomas Story & Son LLC’s investment portfolio, making the stock its largest holding. Thomas Story & Son LLC’s holdings in Visa were worth $16,857,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of V. BankPlus Wealth Management LLC raised its stake in Visa by 0.9% in the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock valued at $1,185,000 after buying an additional 29 shares in the last quarter. Transcendent Capital Group LLC increased its holdings in shares of Visa by 2.9% in the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock valued at $360,000 after acquiring an additional 29 shares during the last quarter. Insight Wealth Strategies LLC raised its position in shares of Visa by 1.6% during the 3rd quarter. Insight Wealth Strategies LLC now owns 1,875 shares of the credit-card processor’s stock worth $640,000 after acquiring an additional 29 shares in the last quarter. Old Port Advisors lifted its stake in Visa by 0.9% during the third quarter. Old Port Advisors now owns 3,423 shares of the credit-card processor’s stock worth $1,169,000 after purchasing an additional 29 shares during the last quarter. Finally, Interchange Capital Partners LLC boosted its holdings in Visa by 0.5% in the second quarter. Interchange Capital Partners LLC now owns 6,413 shares of the credit-card processor’s stock valued at $2,276,000 after purchasing an additional 30 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of NYSE:V opened at $352.11 on Tuesday. Visa Inc. has a one year low of $299.00 and a one year high of $375.51. The stock has a market capitalization of $641.45 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 2.05 and a beta of 0.82. The company has a 50-day simple moving average of $337.67 and a 200-day simple moving average of $344.37. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.01. The firm had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.71 EPS. On average, analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 26.25%.

Insider Transactions at Visa

In other news, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the sale, the director owned 2,468 shares in the company, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at approximately $8,608,789.09. The trade was a 7.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 24,042 shares of company stock worth $8,175,152 over the last 90 days. 0.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on V shares. Citigroup raised shares of Visa to a “strong-buy” rating in a report on Thursday, October 23rd. HSBC upgraded shares of Visa from a “hold” rating to a “buy” rating and lifted their price target for the stock from $335.00 to $389.00 in a research note on Sunday, December 7th. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Hsbc Global Res upgraded Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Visa has a consensus rating of “Buy” and a consensus price target of $402.52.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.