ERn Financial LLC Trims Stake in Visa Inc. (NYSE:V)

ERn Financial LLC lessened its holdings in shares of Visa Inc. (NYSE:V) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,969 shares of the credit-card processor’s stock after selling 66 shares during the quarter. ERn Financial LLC’s holdings in Visa were worth $1,366,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of V. Duncan Williams Asset Management LLC purchased a new position in shares of Visa in the 1st quarter worth about $1,188,000. Orrstown Financial Services Inc. lifted its position in Visa by 2.6% in the 1st quarter. Orrstown Financial Services Inc. now owns 6,247 shares of the credit-card processor’s stock worth $1,743,000 after buying an additional 161 shares during the last quarter. Moody National Bank Trust Division boosted its stake in Visa by 0.5% in the first quarter. Moody National Bank Trust Division now owns 28,167 shares of the credit-card processor’s stock worth $7,861,000 after buying an additional 135 shares in the last quarter. Davis Capital Management grew its position in Visa by 1.8% during the first quarter. Davis Capital Management now owns 6,342 shares of the credit-card processor’s stock valued at $1,765,000 after acquiring an additional 111 shares during the last quarter. Finally, Capital Market Strategies LLC purchased a new position in shares of Visa during the first quarter worth approximately $210,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of a number of research reports. TD Cowen cut their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Macquarie reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Visa in a research note on Friday, September 27th. Oppenheimer assumed coverage on Visa in a report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 price objective on the stock. Jefferies Financial Group reduced their price target on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a research note on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $313.81.

Visa Stock Performance

Shares of Visa stock opened at $279.29 on Wednesday. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07. The firm has a market capitalization of $510.80 billion, a P/E ratio of 31.21, a P/E/G ratio of 1.92 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $275.07 and a two-hundred day simple moving average of $272.63.

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

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.74%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Buying and Selling 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 of the company’s stock, 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 can be accessed through this link. Company insiders own 0.19% of the company’s stock.

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.