NorthRock Partners LLC Reduces Stock Position in Visa Inc. (NYSE:V)

NorthRock Partners LLC decreased its holdings in Visa Inc. (NYSE:V) by 22.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,828 shares of the credit-card processor’s stock after selling 3,678 shares during the period. NorthRock Partners LLC’s holdings in Visa were worth $3,527,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in V. WFA Asset Management Corp boosted its holdings in shares of Visa by 4.6% in the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after purchasing an additional 100 shares during the period. China Universal Asset Management Co. Ltd. raised its position in Visa by 46.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock valued at $14,046,000 after purchasing an additional 16,078 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Visa in the 1st quarter worth $5,681,000. Liberty Wealth Management LLC purchased a new stake in shares of Visa in the 1st quarter worth $5,333,000. Finally, Comprehensive Financial Consultants Institutional Inc. grew its position in shares of Visa by 6.5% during the 1st quarter. Comprehensive Financial Consultants Institutional Inc. now owns 7,557 shares of the credit-card processor’s stock worth $2,109,000 after buying an additional 460 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 0.5 %

Shares of V stock opened at $293.36 on Wednesday. Visa Inc. has a fifty-two week low of $240.97 and a fifty-two week high of $296.34. The firm has a market capitalization of $534.59 billion, a PE ratio of 30.15, a P/E/G ratio of 1.96 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. The stock’s 50-day simple moving average is $281.92 and its 200-day simple moving average is $273.97.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the company earned $2.33 EPS. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts expect that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.80%. Visa’s payout ratio is currently 21.38%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $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 accessible through this link. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Robert W. Baird lifted their price objective on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and set a $321.00 target price (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Compass Point assumed coverage on Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

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.