Commonwealth Financial Services LLC Trims Stake in Visa Inc. (NYSE:V)

Commonwealth Financial Services LLC lowered its position in Visa Inc. (NYSE:V) by 5.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,246 shares of the credit-card processor’s stock after selling 136 shares during the quarter. Commonwealth Financial Services LLC’s holdings in Visa were worth $598,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Livelsberger Financial Advisory purchased a new stake in Visa during the 4th quarter valued at about $25,000. Westend Capital Management LLC bought a new position in shares of Visa in the first quarter worth approximately $25,000. POM Investment Strategies LLC increased its stake in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the period. Frank Rimerman Advisors LLC purchased a new position in shares of Visa in the fourth quarter worth $33,000. Finally, TruNorth Capital Management LLC raised its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Bank of America lifted their price objective on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. The Goldman Sachs Group restated a “buy” rating and set a $317.00 target price on shares of Visa in a report on Thursday, September 12th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research report on Tuesday, September 3rd. Finally, Evercore ISI decreased their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Six investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $310.22.

Visa Trading Down 0.2 %

Shares of NYSE:V opened at $284.77 on Monday. The stock has a 50 day moving average of $270.65 and a 200 day moving average of $273.40. The company has a market cap of $520.83 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $293.07. 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 posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates 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 company’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.16 earnings per share. As a group, equities research analysts expect that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.73%. Visa’s payout ratio is presently 23.24%.

Insider Buying and Selling at Visa

In related 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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

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.