WP Advisors LLC Reduces Position in Visa Inc. (NYSE:V)

WP Advisors LLC lessened its position in shares of Visa Inc. (NYSE:V) by 4.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,012 shares of the credit-card processor’s stock after selling 970 shares during the quarter. Visa comprises 2.3% of WP Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. WP Advisors LLC’s holdings in Visa were worth $6,327,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Holistic Financial Partners grew its stake in shares of Visa by 2.5% in the 3rd quarter. Holistic Financial Partners now owns 1,877 shares of the credit-card processor’s stock valued at $516,000 after purchasing an additional 46 shares during the last quarter. Richard C. Young & CO. LTD. grew its stake in shares of Visa by 0.9% in the 3rd quarter. Richard C. Young & CO. LTD. now owns 87,828 shares of the credit-card processor’s stock valued at $24,148,000 after purchasing an additional 820 shares during the last quarter. MAI Capital Management grew its stake in shares of Visa by 0.8% in the 3rd quarter. MAI Capital Management now owns 349,162 shares of the credit-card processor’s stock valued at $96,002,000 after purchasing an additional 2,684 shares during the last quarter. Aljian Capital Management LLC grew its stake in shares of Visa by 26.0% in the 3rd quarter. Aljian Capital Management LLC now owns 19,686 shares of the credit-card processor’s stock valued at $5,413,000 after purchasing an additional 4,056 shares during the last quarter. Finally, Glass Wealth Management Co LLC grew its stake in shares of Visa by 16.8% in the 3rd quarter. Glass Wealth Management Co LLC now owns 6,157 shares of the credit-card processor’s stock valued at $1,693,000 after purchasing an additional 887 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Visa stock opened at $309.64 on Monday. The stock has a fifty day moving average price of $287.04 and a 200 day moving average price of $276.01. Visa Inc. has a 52 week low of $245.60 and a 52 week high of $312.44. 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 market capitalization of $564.26 billion, a P/E ratio of 31.82, a PEG ratio of 2.07 and a beta of 0.95.

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

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio is presently 24.25%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Macquarie lifted their price target on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their price target on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Finally, Robert W. Baird lifted their price target on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four research 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 company’s stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

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.