Generate Investment Management Ltd Cuts Holdings in Visa Inc. (NYSE:V)

Generate Investment Management Ltd lowered its holdings in Visa Inc. (NYSE:V) by 30.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,924 shares of the credit-card processor’s stock after selling 30,755 shares during the quarter. Visa accounts for about 1.3% of Generate Investment Management Ltd’s investment portfolio, making the stock its 29th biggest holding. Generate Investment Management Ltd’s holdings in Visa were worth $19,226,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hilltop National Bank purchased a new stake in Visa during the 1st quarter valued at $1,212,000. Absolute Capital Management LLC bought a new position in Visa in the first quarter valued at about $404,000. Davidson Capital Management Inc. boosted its position in Visa by 0.5% in the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after purchasing an additional 44 shares during the last quarter. Empirical Finance LLC grew its stake in shares of Visa by 4.4% during the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after purchasing an additional 1,914 shares during the period. Finally, Arjuna Capital increased its position in shares of Visa by 0.8% during the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after purchasing an additional 96 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Up 0.1 %

Shares of V opened at $290.62 on Friday. The business’s 50 day simple moving average is $276.91 and its 200-day simple moving average is $272.94. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market capitalization of $531.53 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the company posted $2.16 EPS. As a group, equities analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.72%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 approximately $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of a number of research reports. Oppenheimer initiated coverage on shares of Visa in a report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 price objective on the stock. Bank of America lifted their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. The Goldman Sachs Group restated a “buy” rating and issued a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Finally, Citigroup reduced their price target on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.19.

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.