Concorde Asset Management LLC Reduces Position in Visa Inc. (NYSE:V)

Concorde Asset Management LLC cut its stake in shares of Visa Inc. (NYSE:V) by 35.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 871 shares of the credit-card processor’s stock after selling 488 shares during the quarter. Concorde Asset Management LLC’s holdings in Visa were worth $229,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Hilltop National Bank purchased a new stake in shares of Visa during the first quarter valued at $1,212,000. Absolute Capital Management LLC purchased a new stake in Visa in the first quarter valued at $404,000. SageView Advisory Group LLC boosted its holdings in Visa by 40.4% in the fourth quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit-card processor’s stock valued at $6,967,000 after purchasing an additional 7,236 shares during the last quarter. Davidson Capital Management Inc. boosted its holdings in Visa by 0.5% in the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after purchasing an additional 44 shares during the last quarter. Finally, Empirical Finance LLC boosted its holdings in Visa by 4.4% in the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after purchasing an additional 1,914 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by insiders.

Visa Stock Down 1.1 %

V stock opened at $285.25 on Friday. The company has a market cap of $519.81 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 2.05 and a beta of 0.96. 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 Inc. has a 12 month low of $227.78 and a 12 month high of $293.07. The firm has a 50-day moving average of $270.27 and a two-hundred day moving average of $273.46.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion during 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%. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.16 EPS. As a group, analysts forecast that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.73%. Visa’s payout ratio is 23.24%.

Analyst Ratings Changes

Several research firms have commented on V. Citigroup lowered their price target 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. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a report on Tuesday, September 3rd. Jefferies Financial Group lowered their price target 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 research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective for the company. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Six analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $310.22.

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.