Crestwood Advisors Group LLC Decreases Stock Holdings in Visa Inc. $V

Crestwood Advisors Group LLC cut its position in Visa Inc. (NYSE:V) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 334,854 shares of the credit-card processor’s stock after selling 8,600 shares during the quarter. Visa comprises 1.9% of Crestwood Advisors Group LLC’s portfolio, making the stock its 9th biggest holding. Crestwood Advisors Group LLC’s holdings in Visa were worth $114,312,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in V. Harbor Asset Planning Inc. bought a new stake in Visa during the second quarter worth $29,000. Sagard Holdings Management Inc. bought a new stake in shares of Visa during the 2nd quarter worth $31,000. Bare Financial Services Inc boosted its stake in Visa by 287.0% in the second 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 in the last quarter. Hoese & Co LLP bought a new position in Visa in the second quarter valued at about $36,000. Finally, Quaker Wealth Management LLC raised its stake in Visa by 202.7% during the second quarter. Quaker Wealth Management LLC now owns 114 shares of the credit-card processor’s stock worth $40,000 after acquiring an additional 225 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on V shares. HSBC upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 8th. Raymond James Financial reaffirmed an “outperform” rating and set a $408.00 target price (up previously from $398.00) on shares of Visa in a research note on Wednesday, October 29th. KeyCorp reiterated an “overweight” rating and issued a $405.00 price target on shares of Visa in a research note on Wednesday, October 22nd. Daiwa America raised Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Finally, UBS Group reaffirmed a “buy” rating on shares of Visa in a report on Tuesday, January 13th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Visa has an average rating of “Buy” and a consensus price target of $392.21.

Visa Stock Performance

NYSE V opened at $314.13 on Tuesday. The company has a market capitalization of $570.19 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 1.80 and a beta of 0.79. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The stock has a fifty day simple moving average of $337.74 and a 200 day simple moving average of $339.51. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51.

Visa (NYSE:V) last announced its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, topping the consensus estimate of $3.14 by $0.03. The firm had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.The business’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.75 EPS. Sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, February 10th. Visa’s dividend payout ratio is currently 25.14%.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction that occurred 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 transaction, the insider owned 26,413 shares in the company, valued at approximately $8,608,789.09. The trade was a 7.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the sale, the chief executive officer directly owned 9,401 shares in the company, valued at approximately $3,282,641.18. This represents a 52.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is currently owned by company insiders.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.