Bleakley Financial Group LLC Sells 186 Shares of Visa Inc. (NYSE:V)

Bleakley Financial Group LLC reduced its stake in Visa Inc. (NYSE:V) by 0.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,702 shares of the credit-card processor’s stock after selling 186 shares during the period. Bleakley Financial Group LLC’s holdings in Visa were worth $12,841,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Greenup Street Wealth Management LLC boosted its stake in shares of Visa by 27.7% in the 3rd quarter. Greenup Street Wealth Management LLC now owns 10,165 shares of the credit-card processor’s stock valued at $2,795,000 after purchasing an additional 2,206 shares in the last quarter. Buffington Mohr McNeal boosted its stake in shares of Visa by 1.8% in the 3rd quarter. Buffington Mohr McNeal now owns 41,498 shares of the credit-card processor’s stock valued at $11,410,000 after purchasing an additional 719 shares in the last quarter. Good Life Advisors LLC boosted its stake in shares of Visa by 10.5% in the 3rd quarter. Good Life Advisors LLC now owns 8,737 shares of the credit-card processor’s stock valued at $2,402,000 after purchasing an additional 829 shares in the last quarter. Perigon Wealth Management LLC acquired a new stake in shares of Visa in the 3rd quarter valued at approximately $34,713,000. Finally, Naviter Wealth LLC boosted its position in Visa by 0.5% during the 3rd quarter. Naviter Wealth LLC now owns 11,699 shares of the credit-card processor’s stock worth $3,217,000 after buying an additional 63 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on V. Royal Bank of Canada reduced their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Compass Point began coverage on shares of Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective on the stock. Robert W. Baird upped their price objective on shares of Visa from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday. Oppenheimer began coverage on shares of Visa in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 price objective on the stock. Finally, 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. Four equities 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 company’s stock. Based on data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $314.19.

Visa Stock Performance

Shares of V stock opened at $290.38 on Friday. The firm has a 50-day moving average of $276.30 and a 200-day moving average of $272.86. The company has a market cap of $531.09 billion, a P/E ratio of 32.44, a P/E/G ratio of 1.94 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a one year low of $228.03 and a one year high of $293.07.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.16 earnings per share. Equities research analysts forecast that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced 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 of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.72%. Visa’s dividend payout ratio is currently 23.24%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

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.