GEM Asset Management LLC Trims Holdings in Visa Inc. (NYSE:V)

GEM Asset Management LLC cut its position in shares of Visa Inc. (NYSE:V) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,650 shares of the credit-card processor’s stock after selling 101 shares during the quarter. GEM Asset Management LLC’s holdings in Visa were worth $999,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in V. SG Americas Securities LLC lifted its stake in Visa by 4,412.3% during the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after purchasing an additional 4,166,905 shares during the last quarter. National Bank of Canada FI lifted its stake in Visa by 787.1% in the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after buying an additional 4,099,122 shares during the last quarter. Swedbank AB bought a new stake in Visa in the first quarter valued at $511,321,000. GQG Partners LLC lifted its stake in Visa by 40.1% in the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after buying an additional 1,715,686 shares during the last quarter. Finally, Wulff Hansen & CO. lifted its stake in Visa by 26,951.9% in the second quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock valued at $416,788,000 after buying an additional 1,582,074 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 0.0 %

Shares of Visa stock traded up $0.11 during trading on Thursday, hitting $277.04. 1,309,400 shares of the stock traded hands, compared to its average volume of 7,126,936. The company has a fifty day moving average price of $273.71 and a two-hundred day moving average price of $272.71. 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 Inc. has a twelve month low of $228.03 and a twelve month high of $293.07. The stock has a market cap of $506.69 billion, a P/E ratio of 30.95, a PEG ratio of 1.92 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share 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 business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same period last year, the business earned $2.16 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. Equities research analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal 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 given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Compass Point assumed coverage on Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price on the stock. Royal Bank of Canada lowered their price target on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Bank of America raised their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Evercore ISI lowered their price target on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Finally, Macquarie reissued an “outperform” rating and set a $300.00 price target on shares of Visa in a report on Friday, September 27th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $312.04.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

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.