Mount Lucas Management LP Lowers Position in Visa Inc. (NYSE:V)

Mount Lucas Management LP cut its position in Visa Inc. (NYSE:V) by 0.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,705 shares of the credit-card processor’s stock after selling 84 shares during the quarter. Mount Lucas Management LP’s holdings in Visa were worth $2,547,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Long Run Wealth Advisors LLC raised its holdings in Visa by 2.5% in the first quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock worth $424,000 after purchasing an additional 37 shares in the last quarter. Alaethes Wealth LLC raised its holdings in Visa by 0.4% in the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after purchasing an additional 37 shares in the last quarter. Jessup Wealth Management Inc raised its holdings in Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after purchasing an additional 37 shares in the last quarter. Cordatus Wealth Management LLC raised its holdings in Visa by 0.3% in the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after purchasing an additional 37 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC increased its holdings in shares of Visa by 1.8% during the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after acquiring an additional 38 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction 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 approximately $148,687.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on V shares. Citigroup cut their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Jefferies Financial Group cut their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Compass Point started coverage on shares of Visa in a report on Wednesday. They set a “buy” rating and a $319.00 price objective on the stock. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a report on Tuesday, September 3rd. Finally, Bank of America reiterated a “neutral” rating and issued a $297.00 price target (down previously from $305.00) on shares of Visa in a report on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $309.54.

Visa Price Performance

NYSE V traded up $0.75 during mid-day trading on Friday, hitting $279.37. The stock had a trading volume of 7,187,805 shares, compared to its average volume of 7,125,969. The firm’s 50 day moving average is $266.53 and its 200 day moving average is $273.13. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96. 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 $510.95 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 1.98 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the prior year, the company earned $2.16 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. Equities research analysts forecast that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Visa 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.