Visa Inc. (NYSE:V) Shares Sold by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp lessened its holdings in shares of Visa Inc. (NYSE:V) by 63.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,350 shares of the credit-card processor’s stock after selling 4,000 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in Visa were worth $617,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Westend Capital Management LLC acquired a new position in shares of Visa during the first quarter worth about $25,000. Livelsberger Financial Advisory acquired a new stake in Visa during the 4th quarter valued at $25,000. POM Investment Strategies LLC boosted its stake in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa during the fourth quarter worth about $33,000. Finally, TruNorth Capital Management LLC raised its holdings in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on V. William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group lowered their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price objective on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Macquarie reaffirmed an “outperform” rating and set a $300.00 price target on shares of Visa in a research report on Wednesday, July 24th. Finally, Citigroup reduced their price objective on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $310.22.

Visa Stock Down 0.2 %

Shares of NYSE V opened at $284.77 on Monday. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $293.07. The firm’s 50-day simple moving average is $270.65 and its 200 day simple moving average is $273.40. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $520.83 billion, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates 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 period in the prior year, the business earned $2.16 earnings per share. On average, research analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date of this dividend 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%.

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.