Visa Inc. (NYSE:V) Shares Sold by Malaga Cove Capital LLC

by · The Cerbat Gem

Malaga Cove Capital LLC lessened its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,884 shares of the credit-card processor’s stock after selling 63 shares during the period. Visa accounts for approximately 1.1% of Malaga Cove Capital LLC’s investment portfolio, making the stock its 29th biggest holding. Malaga Cove Capital LLC’s holdings in Visa were worth $2,718,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Walkner Condon Financial Advisors LLC lifted its position in shares of Visa by 5.9% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 1,375 shares of the credit-card processor’s stock worth $378,000 after buying an additional 77 shares during the last quarter. Advisor Resource Council acquired a new stake in Visa during the 3rd quarter worth $1,127,000. Graypoint LLC lifted its position in Visa by 0.8% in the third quarter. Graypoint LLC now owns 18,002 shares of the credit-card processor’s stock valued at $4,950,000 after acquiring an additional 149 shares during the last quarter. Blake Schutter Theil Wealth Advisors LLC acquired a new position in Visa in the third quarter valued at $1,431,000. Finally, Prudent Investors Network Inc. purchased a new position in shares of Visa during the third quarter worth about $355,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 4.8 %

Shares of NYSE:V opened at $307.36 on Thursday. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $560.11 billion, a P/E ratio of 31.59, a P/E/G ratio of 1.96 and a beta of 0.95. Visa Inc. has a 52-week low of $240.97 and a 52-week high of $309.00. The stock’s fifty day simple moving average is $282.69 and its 200-day simple moving average is $274.20.

Visa (NYSE:V – Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.33 earnings per share. As a group, equities research analysts forecast that Visa Inc. will post 11.18 earnings per share for the current fiscal 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 annualized dividend and a yield of 0.77%. Visa’s dividend payout ratio is 21.38%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on V shares. Deutsche Bank Aktiengesellschaft upped their target price on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Morgan Stanley lifted their target price on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and set a $321.00 price target (up previously from $318.00) on shares of Visa in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted 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 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $321.74.

Check Out Our Latest Stock Report on V

About Visa

(Free Report)

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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