Dakota Wealth Management Sells 33,657 Shares of Visa Inc. (NYSE:V)

Dakota Wealth Management trimmed its position in Visa Inc. (NYSE:V) by 22.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 114,594 shares of the credit-card processor’s stock after selling 33,657 shares during the period. Visa comprises about 0.7% of Dakota Wealth Management’s investment portfolio, making the stock its 24th biggest position. Dakota Wealth Management’s holdings in Visa were worth $31,508,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in V. Vanguard Group Inc. raised its stake in shares of Visa by 0.6% in the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after buying an additional 788,908 shares during the period. Capital International Investors raised its stake in Visa by 2.7% during the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after acquiring an additional 626,618 shares during the period. Capital World Investors lifted its holdings in Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after purchasing an additional 968,008 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Visa by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after purchasing an additional 345,829 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Visa by 2.2% in the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after purchasing an additional 312,286 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated 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 transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

Visa Price Performance

V stock opened at $281.73 on Friday. The stock has a market cap of $515.27 billion, a PE ratio of 31.48, a P/E/G ratio of 1.96 and a beta of 0.96. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07. The company has a 50-day moving average price of $278.73 and a 200 day moving average price of $273.17. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

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

Analysts Set New Price Targets

Several brokerages recently weighed in on V. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. JPMorgan Chase & Co. upped their price objective on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Oppenheimer began coverage on Visa in a research report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 target price for the company. Royal Bank of Canada lowered their price target on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price objective on shares of Visa in a report on Thursday, September 12th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.