Accent Capital Management LLC Decreases Stock Holdings in Visa Inc. (NYSE:V)

Accent Capital Management LLC lessened its position in shares of Visa Inc. (NYSE:V) by 15.8% in the third quarter, HoldingsChannel.com reports. The fund owned 14,683 shares of the credit-card processor’s stock after selling 2,748 shares during the period. Visa comprises approximately 2.3% of Accent Capital Management LLC’s portfolio, making the stock its 10th biggest holding. Accent Capital Management LLC’s holdings in Visa were worth $4,037,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. POM Investment Strategies LLC grew its position in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Visa in the 3rd quarter valued at approximately $31,000. TruNorth Capital Management LLC grew its holdings in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Abich Financial Wealth Management LLC increased its position in Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after purchasing an additional 46 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in Visa in the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on V shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Royal Bank of Canada upped their target price on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Citigroup upped their price objective on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Visa Price Performance

Shares of NYSE V opened at $309.64 on Friday. The firm has a market capitalization of $564.26 billion, a P/E ratio of 31.82, a P/E/G ratio of 2.07 and a beta of 0.95. The firm’s 50-day moving average price is $287.04 and its 200-day moving average price is $275.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. Visa Inc. has a 1-year low of $245.60 and a 1-year high of $312.44.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the business earned $2.33 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is presently 24.25%.

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.