ASB Consultores LLC Lowers Stake in Visa Inc. (NYSE:V)

ASB Consultores LLC decreased its stake in shares of Visa Inc. (NYSE:V) by 36.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,416 shares of the credit-card processor’s stock after selling 3,149 shares during the quarter. Visa makes up 0.5% of ASB Consultores LLC’s portfolio, making the stock its 23rd largest position. ASB Consultores LLC’s holdings in Visa were worth $1,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in V. Hilltop National Bank bought a new position in Visa in the first quarter worth approximately $1,212,000. Absolute Capital Management LLC purchased a new stake in Visa during the 1st quarter worth approximately $404,000. SageView Advisory Group LLC raised its holdings in shares of Visa by 40.4% in the fourth quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit-card processor’s stock worth $6,967,000 after buying an additional 7,236 shares during the last quarter. Davidson Capital Management Inc. lifted its stake in shares of Visa by 0.5% during the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after buying an additional 44 shares during the period. Finally, Empirical Finance LLC grew its holdings in shares of Visa by 4.4% during the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after buying an additional 1,914 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on V. Macquarie reaffirmed an “outperform” rating and set a $300.00 price target on shares of Visa in a research report on Wednesday, July 24th. Royal Bank of Canada decreased their price target on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. TD Cowen dropped their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Citigroup decreased their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a research report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $310.22.

Visa Trading Down 1.1 %

Shares of NYSE V opened at $285.25 on Friday. 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 stock has a market capitalization of $519.81 billion, a PE ratio of 31.87, a PEG ratio of 2.05 and a beta of 0.96. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $293.07. The stock has a fifty day simple moving average of $270.27 and a 200-day simple moving average of $273.46.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.16 earnings per share. On average, equities analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.73%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’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 completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.19% of the company’s stock.

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.