Guinness Asset Management LTD Cuts Holdings in Visa Inc. (NYSE:V)

Guinness Asset Management LTD cut its holdings in Visa Inc. (NYSE:V) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,453 shares of the credit-card processor’s stock after selling 2,243 shares during the quarter. Guinness Asset Management LTD’s holdings in Visa were worth $35,317,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of V. Perfromance Wealth Partners LLC lifted its position in shares of Visa by 1.4% during the 3rd quarter. Perfromance Wealth Partners LLC now owns 56,083 shares of the credit-card processor’s stock valued at $15,420,000 after acquiring an additional 773 shares during the period. Asio Capital LLC raised its holdings in Visa by 1.9% during the third quarter. Asio Capital LLC now owns 24,521 shares of the credit-card processor’s stock worth $6,742,000 after purchasing an additional 449 shares during the last quarter. Meyer Handelman Co. grew its holdings in Visa by 6.6% in the third quarter. Meyer Handelman Co. now owns 84,936 shares of the credit-card processor’s stock valued at $23,353,000 after purchasing an additional 5,288 shares during the last quarter. Bennett Selby Investments LP increased its position in shares of Visa by 0.4% in the third quarter. Bennett Selby Investments LP now owns 54,547 shares of the credit-card processor’s stock valued at $14,998,000 after buying an additional 221 shares in the last quarter. Finally, First Affirmative Financial Network raised its stake in shares of Visa by 95.5% during the 3rd quarter. First Affirmative Financial Network now owns 7,445 shares of the credit-card processor’s stock worth $2,047,000 after buying an additional 3,636 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on V shares. Macquarie reiterated an “outperform” rating and set a $300.00 target price on shares of Visa in a report on Friday, September 27th. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Morgan Stanley reiterated an “overweight” rating and set a $322.00 price target on shares of Visa in a report on Wednesday, September 25th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $312.04.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

Visa stock traded up $0.37 during midday trading on Friday, reaching $277.84. 4,746,446 shares of the stock traded hands, compared to its average volume of 7,128,830. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07. The firm has a market cap of $506.31 billion, a price-to-earnings ratio of 29.71, a PEG ratio of 1.92 and a beta of 0.96. The firm has a fifty day moving average price of $274.16 and a two-hundred day moving average price of $272.72. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the firm posted $2.16 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. On average, equities research analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 22.25%.

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.