Capital Counsel LLC NY Has $270.65 Million Position in Visa Inc. $V

Capital Counsel LLC NY cut its holdings in Visa Inc. (NYSE:V) by 1.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 762,278 shares of the credit-card processor’s stock after selling 11,790 shares during the period. Visa makes up 11.0% of Capital Counsel LLC NY’s investment portfolio, making the stock its largest position. Capital Counsel LLC NY’s holdings in Visa were worth $270,647,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in V. Horiko Capital Management LLC raised its stake in shares of Visa by 51.8% in the second quarter. Horiko Capital Management LLC now owns 6,981 shares of the credit-card processor’s stock worth $2,479,000 after purchasing an additional 2,381 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Visa by 1.6% in the 2nd quarter. Fisher Asset Management LLC now owns 7,260,321 shares of the credit-card processor’s stock worth $2,577,777,000 after buying an additional 117,797 shares in the last quarter. Shelton Capital Management lifted its stake in Visa by 3.7% during the 2nd quarter. Shelton Capital Management now owns 34,897 shares of the credit-card processor’s stock valued at $12,390,000 after acquiring an additional 1,239 shares during the period. Fernbridge Capital Management LP bought a new position in Visa during the 2nd quarter valued at about $35,394,000. Finally, Bare Financial Services Inc boosted its holdings in shares of Visa by 287.0% during the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 66 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,117. This represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction on 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 owned 26,413 shares in the company, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 24,042 shares of company stock worth $8,175,152. Company insiders own 0.13% of the company’s stock.

Visa Trading Up 0.3%

NYSE:V opened at $334.67 on Monday. Visa Inc. has a one year low of $299.00 and a one year high of $375.51. The business has a fifty day moving average price of $339.68 and a 200-day moving average price of $347.15. The firm has a market capitalization of $609.67 billion, a price-to-earnings ratio of 32.78, a price-to-earnings-growth ratio of 1.98 and a beta of 0.82. 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) last released its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.01. The business had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.Visa’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.71 earnings per share. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

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

Analyst Ratings Changes

A number of research analysts recently weighed in on V shares. Citigroup upgraded shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Morgan Stanley set a $398.00 price target on Visa and gave the company an “overweight” rating in a report on Wednesday, October 29th. Robert W. Baird set a $425.00 price objective on Visa in a report on Wednesday, October 29th. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $400.00.

About Visa

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.