Steel Grove Capital Advisors LLC Trims Holdings in Visa Inc. (NYSE:V)

Steel Grove Capital Advisors LLC lessened its holdings in shares of Visa Inc. (NYSE:V) by 24.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,482 shares of the credit-card processor’s stock after selling 807 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Visa were worth $651,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of V. J. Stern & Co. LLP grew its holdings in shares of Visa by 39.5% during the 2nd quarter. J. Stern & Co. LLP now owns 10,847 shares of the credit-card processor’s stock worth $2,847,000 after acquiring an additional 3,070 shares during the period. Certified Advisory Corp boosted its position in shares of Visa by 5.3% in the 2nd quarter. Certified Advisory Corp now owns 14,048 shares of the credit-card processor’s stock worth $3,687,000 after purchasing an additional 705 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Visa by 26.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 15,630 shares of the credit-card processor’s stock worth $4,153,000 after purchasing an additional 3,284 shares in the last quarter. Fairscale Capital LLC bought a new stake in shares of Visa in the 2nd quarter worth approximately $2,031,000. Finally, Fernbridge Capital Management LP bought a new stake in shares of Visa in the 2nd quarter worth approximately $27,984,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.2 %

Shares of V stock opened at $284.77 on Monday. The stock has a fifty day simple moving average of $270.65 and a two-hundred day simple moving average of $273.40. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $293.07. The firm has a market capitalization of $520.83 billion, a PE ratio of 31.82, a PEG ratio of 2.05 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last announced 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 net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter last year, the firm earned $2.16 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 presently 23.24%.

Insider Buying and Selling at Visa

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

Analyst Upgrades and Downgrades

V has been the topic of a number of analyst reports. Royal Bank of Canada dropped their price target on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Citigroup dropped their price target on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. TD Cowen dropped their price target on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Compass Point assumed coverage on Visa in a research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target on the stock. Finally, Macquarie reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Visa 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $310.22.

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.