Evolution Wealth Advisors LLC Sells 49 Shares of Visa Inc. (NYSE:V)

Evolution Wealth Advisors LLC lowered its stake in Visa Inc. (NYSE:V) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 953 shares of the credit-card processor’s stock after selling 49 shares during the quarter. Evolution Wealth Advisors LLC’s holdings in Visa were worth $262,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of V. Unionview LLC boosted its position in shares of Visa by 1.5% in the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after purchasing an additional 33 shares in the last quarter. KMG Fiduciary Partners LLC increased its holdings in shares of Visa by 0.3% during the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after acquiring an additional 37 shares in the last quarter. Iron Horse Wealth Management LLC boosted its stake in Visa by 15.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock worth $74,000 after purchasing an additional 37 shares in the last quarter. Washington Trust Bank grew its position in Visa by 1.1% during the 3rd quarter. Washington Trust Bank now owns 3,258 shares of the credit-card processor’s stock worth $896,000 after purchasing an additional 37 shares during the last quarter. Finally, Proffitt & Goodson Inc. increased its stake in Visa by 20.3% during the 3rd quarter. Proffitt & Goodson Inc. now owns 219 shares of the credit-card processor’s stock valued at $60,000 after purchasing an additional 37 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of 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 94.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Visa Stock Up 0.5 %

V stock opened at $309.67 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average of $287.04 and a two-hundred day moving average of $275.90. Visa Inc. has a 12 month low of $245.60 and a 12 month high of $312.44. The company has a market cap of $564.31 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 2.06 and a beta of 0.95.

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

Visa Increases Dividend

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

Analysts Set New Price Targets

V has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Citigroup upped their price objective on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Morgan Stanley upped their price target on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price 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.