Verity & Verity LLC Sells 320 Shares of Visa Inc. $V

by · The Markets Daily

Verity & Verity LLC trimmed its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 7.4% in the second quarter, HoldingsChannel.com reports. The fund owned 4,002 shares of the credit-card processor’s stock after selling 320 shares during the period. Verity & Verity LLC’s holdings in Visa were worth $1,421,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of V. Vanguard Group Inc. boosted its holdings in shares of Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after buying an additional 1,461,575 shares during the last quarter. Geode Capital Management LLC boosted its stake in Visa by 2.5% in the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after acquiring an additional 1,067,631 shares during the last quarter. Northern Trust Corp grew its position in shares of Visa by 4.0% during the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock valued at $6,654,189,000 after acquiring an additional 726,299 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Visa by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after purchasing an additional 955,392 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Visa by 1.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 12,820,885 shares of the credit-card processor’s stock worth $4,552,057,000 after purchasing an additional 145,665 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In related news, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the sale, the director directly owned 2,468 shares in the company, valued at $830,432.64. This represents a 26.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the transaction, the insider directly owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 24,042 shares of company stock worth $8,175,152. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

V has been the subject of several research reports. UBS Group set a $425.00 price objective on Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. Citigroup raised Visa to a “strong-buy” rating in a report on Thursday, October 23rd. KeyCorp reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Visa in a report on Wednesday, October 22nd. Robert W. Baird set a $425.00 target price on shares of Visa in a research note on Wednesday, October 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $400.00.

Get Our Latest Analysis on Visa

Visa Stock Up 0.7%

Shares of NYSE:V opened at $331.57 on Tuesday. The company has a market cap of $604.03 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 1.94 and a beta of 0.87. Visa Inc. has a one year low of $299.00 and a one year high of $375.51. The firm has a fifty day moving average price of $340.25 and a two-hundred day moving average price of $347.74. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08.

Visa (NYSE:V – Get Free Report) last posted its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.01. The company had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. Visa’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.71 earnings per share. Analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a $0.67 dividend. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio is presently 26.25%.

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.

See Also

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V – Free Report).