Visa Inc. (NYSE:V) Shares Sold by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC trimmed its holdings in Visa Inc. (NYSE:V) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,958 shares of the credit-card processor’s stock after selling 268 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Visa were worth $2,738,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Livelsberger Financial Advisory bought a new stake in Visa in the fourth quarter valued at about $25,000. Westend Capital Management LLC acquired a new position in shares of Visa in the 1st quarter worth approximately $25,000. POM Investment Strategies LLC increased its holdings in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of Visa during the 4th quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC lifted its stake in Visa by 211.9% during the second 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. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on V shares. TD Cowen dropped their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. William Blair upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Macquarie restated an “outperform” rating and issued a $300.00 target price on shares of Visa in a research note on Friday, September 27th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Finally, Compass Point initiated coverage on Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective for the company. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $312.04.

Visa Trading Down 0.1 %

Shares of V stock opened at $276.86 on Friday. The stock has a 50-day simple moving average of $272.63 and a 200 day simple moving average of $273.12. The stock has a market capitalization of $506.36 billion, a P/E ratio of 30.93, a P/E/G ratio of 1.94 and a beta of 0.96. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

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

Visa Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Activity 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 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 $148,687.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

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.