Exeter Financial LLC Sells 367 Shares of Visa Inc. (NYSE:V)

Exeter Financial LLC trimmed its position in shares of Visa Inc. (NYSE:V) by 30.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 838 shares of the credit-card processor’s stock after selling 367 shares during the period. Exeter Financial LLC’s holdings in Visa were worth $230,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of V. Hilltop National Bank purchased a new position in shares of Visa during the 1st quarter worth $1,212,000. Absolute Capital Management LLC acquired a new position in Visa during the 1st quarter valued at approximately $404,000. Davidson Capital Management Inc. boosted its holdings in shares of Visa by 0.5% in the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after acquiring an additional 44 shares during the last quarter. Empirical Finance LLC boosted its holdings in Visa by 4.4% during the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after buying an additional 1,914 shares in the last quarter. Finally, Arjuna Capital raised its position in shares of Visa by 0.8% in the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after buying an additional 96 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on V shares. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research note on Tuesday, September 3rd. Macquarie restated an “outperform” rating and set a $300.00 target price on shares of Visa in a research report on Friday, September 27th. Citigroup cut their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, TD Cowen dropped their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $312.04.

Visa Stock Performance

V opened at $273.87 on Tuesday. 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 firm has a fifty day moving average price of $273.00 and a 200 day moving average price of $272.86. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07. The stock has a market cap of $500.89 billion, a P/E ratio of 30.60, a P/E/G ratio of 1.92 and a beta of 0.96.

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, meeting analysts’ consensus estimates of $2.42. The firm 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%. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.16 earnings per share. Equities research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The business 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 was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.76%. Visa’s dividend payout ratio is currently 23.24%.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by 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.