Visa Inc. (NYSE:V) Shares Sold by Transcendent Capital Group LLC

Transcendent Capital Group LLC trimmed its stake in shares of Visa Inc. (NYSE:V) by 19.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,175 shares of the credit-card processor’s stock after selling 522 shares during the quarter. Transcendent Capital Group LLC’s holdings in Visa were worth $571,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory acquired a new stake in Visa during the 4th quarter worth approximately $25,000. Westend Capital Management LLC purchased a new position in shares of Visa during the 1st quarter worth approximately $25,000. Frank Rimerman Advisors LLC purchased a new position in shares of Visa during the 4th quarter worth approximately $33,000. TruNorth Capital Management LLC raised its stake in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares in the last quarter. Finally, Bbjs Financial Advisors LLC purchased a new position in shares of Visa during the 2nd quarter worth approximately $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Down 0.2 %

Shares of Visa stock traded down $0.50 on Friday, reaching $267.44. 3,697,448 shares of the company were exchanged, compared to its average volume of 7,178,655. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. 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 firm has a market capitalization of $489.13 billion, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95. The stock has a fifty day moving average price of $265.93 and a 200-day moving average price of $273.30.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the previous year, the company posted $2.16 earnings per share. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, analysts expect that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be paid a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. TD Cowen cut their target price on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Morgan Stanley dropped their price target on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price target on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday. Bank of America reissued a “neutral” rating and set a $297.00 price target (down previously from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group decreased their price objective on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $308.50.

Visa Company 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.