Edgestream Partners L.P. decreased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 41.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,793 shares of the credit-card processor's stock after selling 4,067 shares during the period. Edgestream Partners L.P.'s holdings in Visa were worth $1,593,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Contravisory Investment Management Inc. boosted its stake in Visa by 2.5% in the second quarter. Contravisory Investment Management Inc. now owns 1,697 shares of the credit-card processor's stock worth $445,000 after purchasing an additional 42 shares in the last quarter. McElhenny Sheffield Capital Management LLC lifted its position in shares of Visa by 33.4% during the second quarter. McElhenny Sheffield Capital Management LLC now owns 2,994 shares of the credit-card processor's stock worth $789,000 after purchasing an additional 750 shares in the last quarter. Norman Fields Gottscho Capital Management LLC grew its stake in shares of Visa by 0.6% during the second quarter. Norman Fields Gottscho Capital Management LLC now owns 96,413 shares of the credit-card processor's stock valued at $25,357,000 after purchasing an additional 603 shares during the last quarter. Threadgill Financial LLC boosted its stake in shares of Visa by 10.4% in the 2nd quarter. Threadgill Financial LLC now owns 55,273 shares of the credit-card processor's stock valued at $14,507,000 after purchasing an additional 5,202 shares during the last quarter. Finally, Guinness Asset Management LTD boosted its stake in Visa by 3.8% in the second quarter. Guinness Asset Management LTD now owns 130,696 shares of the credit-card processor's stock valued at $34,314,000 after acquiring an additional 4,791 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.
In other news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company's stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company's stock.
A number of equities research analysts recently commented on the company. BMO Capital Markets upped their price objective on Visa from $310.00 to $320.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Citigroup boosted their price objective on shares of Visa from $319.00 to $326.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Morgan Stanley boosted their target price on Visa from $322.00 to $326.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Compass Point assumed coverage on Visa in a research report on Wednesday, September 4th. They set a "buy" rating and a $319.00 price target on the stock. Finally, Royal Bank of Canada boosted their price objective on Visa from $311.00 to $322.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Visa has a consensus rating of "Moderate Buy" and an average price target of $321.74.
View Our Latest Analysis on V
Shares of V opened at $313.00 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 1-year low of $252.14 and a 1-year high of $317.42. The firm's 50-day moving average price is $293.45 and its 200-day moving average price is $279.04. The firm has a market capitalization of $583.08 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 2.13 and a beta of 0.96.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $9.49 billion. During the same quarter in the previous year, the business posted $2.33 EPS. Visa's revenue was up 11.7% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 11.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. This is a positive change from Visa's previous quarterly dividend of $0.52. Visa's dividend payout ratio is presently 24.25%.
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.
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