Monterey Private Wealth Inc. Decreases Stock Holdings in Visa Inc. (NYSE:V)

Monterey Private Wealth Inc. reduced its position in shares of Visa Inc. (NYSE:V) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,790 shares of the credit-card processor’s stock after selling 118 shares during the period. Monterey Private Wealth Inc.’s holdings in Visa were worth $1,317,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of V. Hilltop National Bank purchased a new stake in Visa in 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. Davidson Capital Management Inc. lifted its position 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 acquiring an additional 44 shares during the last quarter. Empirical Finance LLC lifted its position 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 acquiring an additional 1,914 shares during the last quarter. Finally, Arjuna Capital lifted its position in Visa by 0.8% in the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after acquiring an additional 96 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.19% of the stock is owned by company insiders.

Visa Price Performance

Shares of NYSE V opened at $276.86 on Friday. The firm has a market cap of $506.36 billion, a PE ratio of 30.93, a PEG ratio of 1.94 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 1-year low of $228.03 and a 1-year high of $293.07. The company has a fifty day moving average price of $272.63 and a 200 day moving average price of $273.12.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the firm posted $2.16 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. Research analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada dropped their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. BMO Capital Markets boosted their price target on shares of Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $312.04.

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.