IFM Investors Pty Ltd Sells 1,720 Shares of Visa Inc. $V

IFM Investors Pty Ltd trimmed its position in Visa Inc. (NYSE:V) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 334,967 shares of the credit-card processor’s stock after selling 1,720 shares during the quarter. Visa makes up approximately 1.0% of IFM Investors Pty Ltd’s portfolio, making the stock its 13th biggest holding. IFM Investors Pty Ltd’s holdings in Visa were worth $113,008,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Scratch Capital LLC purchased a new position in shares of Visa during the 3rd quarter valued at $348,000. Integris Wealth Management LLC raised its position in shares of Visa by 6.6% in the third quarter. Integris Wealth Management LLC now owns 1,094 shares of the credit-card processor’s stock worth $373,000 after buying an additional 68 shares in the last quarter. GLOBALT Investments LLC GA boosted its stake in Visa by 13.6% during the third quarter. GLOBALT Investments LLC GA now owns 18,939 shares of the credit-card processor’s stock valued at $6,465,000 after buying an additional 2,263 shares during the period. High Probability Advisors LLC bought a new position in Visa in the 3rd quarter worth about $248,000. Finally, True North Advisors LLC raised its holdings in shares of Visa by 12.3% in the 3rd quarter. True North Advisors LLC now owns 16,984 shares of the credit-card processor’s stock valued at $5,798,000 after acquiring an additional 1,860 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of several recent analyst reports. Evercore ISI set a $380.00 price objective on Visa in a report on Friday, December 12th. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. KeyCorp reissued an “overweight” rating and issued a $405.00 price target on shares of Visa in a report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Finally, Macquarie cut their target price on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $402.52.

Visa Stock Performance

Shares of V stock opened at $354.78 on Friday. The firm has a market capitalization of $646.31 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 2.09 and a beta of 0.82. The stock has a fifty day moving average of $338.34 and a 200 day moving average of $344.40. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

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

Visa Increases Dividend

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

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 900 shares of Visa stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the sale, the director directly owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. The trade was a 26.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the transaction, the insider directly owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This represents a 7.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 24,042 shares of company stock worth $8,175,152 over the last three months. Company insiders own 0.12% of the company’s stock.

About Visa

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.