Venator Management LLC Has $24.21 Million Stock Position in Visa Inc. (NYSE:V)

Venator Management LLC reduced its holdings in shares of Visa Inc. (NYSE:V) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 92,235 shares of the credit-card processor’s stock after selling 2,085 shares during the period. Visa accounts for approximately 7.3% of Venator Management LLC’s investment portfolio, making the stock its 8th biggest holding. Venator Management LLC’s holdings in Visa were worth $24,209,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in V. Livelsberger Financial Advisory bought a new position in Visa during the fourth quarter worth $25,000. Westend Capital Management LLC bought a new position in shares of Visa during the 1st quarter worth about $25,000. POM Investment Strategies LLC grew its stake in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the period. Frank Rimerman Advisors LLC bought a new stake in Visa in the 4th quarter valued at about $33,000. Finally, TruNorth Capital Management LLC raised its stake in 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 during the period. 82.15% of the stock is owned by institutional investors.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on V shares. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. boosted their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Evercore ISI dropped their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Royal Bank of Canada reduced their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 price target on shares of Visa in a research report on Thursday, September 12th. Six analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

Visa Price Performance

Visa stock opened at $288.46 on Thursday. 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’s 50 day simple moving average is $269.81 and its 200 day simple moving average is $273.38. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $293.07. The company has a market cap of $525.66 billion, a price-to-earnings ratio of 32.23, a PEG ratio of 2.05 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS 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 firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the prior year, the firm earned $2.16 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

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

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.