Visa Inc. (NYSE:V) Shares Sold by Goodman Advisory Group LLC

Goodman Advisory Group LLC decreased its position in Visa Inc. (NYSE:V) by 3.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,146 shares of the credit-card processor’s stock after selling 199 shares during the period. Goodman Advisory Group LLC’s holdings in Visa were worth $1,613,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in V. Hilltop National Bank purchased a new position in Visa during the first quarter worth $1,212,000. Absolute Capital Management LLC purchased a new stake in Visa during the 1st quarter worth about $404,000. Davidson Capital Management Inc. lifted its holdings in Visa by 0.5% in the 1st 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 in the last quarter. Empirical Finance LLC boosted its stake in shares of Visa by 4.4% during the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after purchasing an additional 1,914 shares during the last quarter. Finally, Arjuna Capital grew its holdings in shares of Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after buying an additional 96 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 the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday. Morgan Stanley reiterated an “overweight” rating and set a $322.00 target price on shares of Visa in a research report on Wednesday. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada cut their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Finally, Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a report on Tuesday. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

Visa Stock Performance

Visa stock opened at $275.17 on Friday. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $293.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $503.27 billion, a price-to-earnings ratio of 30.75, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. The firm’s fifty day moving average price is $271.31 and its 200 day moving average price is $273.35.

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 business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.16 earnings per share. On average, research analysts forecast that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Friday, August 9th. 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.