Greenwich Wealth Management LLC Sells 184 Shares of Visa Inc. (NYSE:V)

Greenwich Wealth Management LLC decreased its stake in shares of Visa Inc. (NYSE:V) by 12.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,261 shares of the credit-card processor’s stock after selling 184 shares during the period. Greenwich Wealth Management LLC’s holdings in Visa were worth $331,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Alaethes Wealth LLC grew its holdings in Visa by 0.4% in the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after purchasing an additional 37 shares during the period. Jessup Wealth Management Inc grew its stake in shares of Visa by 0.7% in the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after buying an additional 37 shares during the last quarter. Long Run Wealth Advisors LLC increased its position in Visa by 2.5% during the 1st quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock valued at $424,000 after buying an additional 37 shares in the last quarter. Cordatus Wealth Management LLC raised its stake in Visa by 0.3% during the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock valued at $3,012,000 after buying an additional 37 shares during the last quarter. Finally, Garden State Investment Advisory Services LLC boosted its holdings in Visa by 1.8% in the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after acquiring an additional 38 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Up 0.7 %

Shares of V opened at $287.35 on Monday. The firm has a market cap of $523.64 billion, a P/E ratio of 32.11, a PEG ratio of 2.01 and a beta of 0.96. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $290.96. The stock’s 50 day moving average is $268.29 and its two-hundred day moving average is $273.16. 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 released 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. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.16 EPS. Analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.72%. Visa’s dividend payout ratio is currently 23.24%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on V shares. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a report on Tuesday, September 3rd. Evercore ISI reduced their price target on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 price objective on shares of Visa in a research note on Thursday. Jefferies Financial Group decreased their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Citigroup cut their target price on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $309.81.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.