Visa Inc. (NYSE:V) Shares Sold by City Holding Co.

City Holding Co. cut its stake in Visa Inc. (NYSE:V) by 0.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,057 shares of the credit-card processor’s stock after selling 114 shares during the quarter. Visa makes up approximately 1.0% of City Holding Co.’s investment portfolio, making the stock its 23rd largest position. City Holding Co.’s holdings in Visa were worth $7,439,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Livelsberger Financial Advisory purchased a new position in shares of Visa during the 4th quarter valued at approximately $25,000. Westend Capital Management LLC purchased a new position in Visa during the first quarter valued at $25,000. POM Investment Strategies LLC grew its position 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 valued at $28,000 after purchasing an additional 97 shares during the period. TruNorth Capital Management LLC raised its position in shares of 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 purchasing an additional 89 shares during the last quarter. Finally, Bbjs Financial Advisors LLC purchased a new position in Visa in the 2nd quarter valued at about $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The shares were 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 of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of NYSE V opened at $274.96 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $502.88 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. The company has a 50-day simple moving average of $273.24 and a 200-day simple moving average of $272.74. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate 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 the consensus estimate of $8.92 billion. During the same period in the prior year, the business posted $2.16 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts anticipate 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 issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is 23.24%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on V shares. Macquarie restated an “outperform” rating and issued a $300.00 price objective on shares of Visa in a report on Friday, September 27th. Evercore ISI cut their price target on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. TD Cowen cut their target price on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.04.

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.