Novem Group Sells 825 Shares of Visa Inc. $V

Key Points

• Novem Group has reduced its stake in Visa Inc. by 8.1%, selling 825 shares and retaining 9,391 shares worth approximately $3.3 million.
• Several institutional investors are active in Visa, with Keystone Global Partners and von Borstel & Associates each acquiring new positions, increasing overall institutional ownership to 82.15%.
• Visa recently announced a quarterly dividend of $0.59 per share, reflecting an annualized yield of 0.7%, with a payout ratio of 23.05%.

Novem Group decreased its stake in Visa Inc. (NYSE:V - Free Report) by 8.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,391 shares of the credit-card processor's stock after selling 825 shares during the period. Novem Group's holdings in Visa were worth $3,334,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in V. Keystone Global Partners LLC bought a new position in shares of Visa during the 1st quarter valued at $26,000. von Borstel & Associates Inc. bought a new position in shares of Visa during the 1st quarter valued at $27,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa during the 2nd quarter valued at $28,000. Cranbrook Wealth Management LLC grew its holdings in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after purchasing an additional 41 shares during the last quarter. Finally, 1 North Wealth Services LLC bought a new position in shares of Visa during the 1st quarter valued at $38,000. Institutional investors own 82.15% of the company's stock.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Visa Trading Up 0.7%

NYSE:V opened at $337.15 on Friday. The company has a 50-day moving average price of $344.65 and a 200-day moving average price of $346.35. Visa Inc. has a 12 month low of $272.78 and a 12 month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a market cap of $617.93 billion, a price-to-earnings ratio of 32.92, a P/E/G ratio of 2.24 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same period last year, the company posted $2.42 EPS. Visa's revenue was up 14.3% on a year-over-year basis. Equities analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's dividend payout ratio (DPR) is 23.05%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on V shares. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and increased their target price for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Citigroup began coverage on shares of Visa in a report on Monday, June 2nd. They set a "buy" rating on the stock. Oppenheimer increased their price target on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. UBS Group reissued a "buy" rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and an average target price of $385.96.

Visa 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.

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