Visa Inc. $V Shares Sold by Cox Capital Mgt LLC

Cox Capital Mgt LLC decreased its position in shares of Visa Inc. (NYSE:V) by 46.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 8,222 shares of the credit-card processor’s stock after selling 7,222 shares during the period. Visa accounts for about 1.8% of Cox Capital Mgt LLC’s holdings, making the stock its 21st largest position. Cox Capital Mgt LLC’s holdings in Visa were worth $2,807,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa during the second quarter worth about $28,000. Harbor Asset Planning Inc. purchased a new stake in Visa during the 2nd quarter worth approximately $29,000. Sagard Holdings Management Inc. purchased a new stake in Visa during the 2nd quarter worth approximately $31,000. Cranbrook Wealth Management LLC lifted its holdings in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares in the last quarter. Finally, Bare Financial Services Inc boosted its position in Visa by 287.0% in the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 66 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

V has been the topic of a number of recent research reports. Macquarie cut their price objective on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. HSBC upgraded Visa from a “hold” rating to a “buy” rating and lifted their target price for the company from $335.00 to $389.00 in a report on Sunday, December 7th. UBS Group set a $425.00 price target on Visa and gave the stock a “buy” rating in a report on Wednesday, October 29th. Evercore ISI set a $380.00 price objective on Visa in a research note on Friday, December 12th. Finally, Bank of America raised Visa from a “neutral” rating to a “buy” rating and set a $382.00 price objective for the company in a research report on Thursday, December 11th. Five analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $402.52.

Visa Stock Up 0.5%

Shares of NYSE V opened at $346.09 on Friday. The business has a 50-day moving average of $337.37 and a two-hundred day moving average of $344.90. The company has a market capitalization of $630.49 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 2.03 and a beta of 0.82. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. 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 issued its earnings results 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 business had revenue of $10.72 billion for 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%.The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company earned $2.71 EPS. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

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

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the transaction, the insider owned 26,413 shares in the company, valued at $8,608,789.09. This represents a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the transaction, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. The trade was a 26.72% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 24,042 shares of company stock worth $8,175,152. 0.12% of the stock is currently owned by insiders.

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.