Visa Inc. $V is Northeast Investment Management's 7th Largest Position

Key Points

• Northeast Investment Management has reduced its stake in Visa Inc. by 2.2%, making Visa the 7th largest holding in their portfolio, valued at approximately $87.97 million.
• Several hedge funds have increased or initiated positions in Visa, with 82.15% of its stock now owned by institutional investors.
• Visa's quarterly earnings exceeded expectations, with a reported $2.98 EPS, and the company recently announced a quarterly dividend of $0.59 per share.

Northeast Investment Management trimmed its position in Visa Inc. (NYSE:V - Free Report) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 247,779 shares of the credit-card processor's stock after selling 5,673 shares during the quarter. Visa accounts for 3.8% of Northeast Investment Management's holdings, making the stock its 7th largest holding. Northeast Investment Management's holdings in Visa were worth $87,974,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Keystone Global Partners LLC purchased a new stake in shares of Visa during the 1st quarter worth $26,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa during the 2nd quarter worth $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the 1st quarter worth $27,000. Harbor Asset Planning Inc. purchased a new stake in shares of Visa during the 2nd quarter worth $29,000. Finally, Cranbrook Wealth Management LLC lifted its stake 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 worth $32,000 after purchasing an additional 41 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was 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 approximately $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

V has been the subject of a number of research analyst reports. UBS Group reiterated a "buy" rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Weiss Ratings restated a "buy (b)" rating on shares of Visa in a research report on Wednesday, October 8th. Robert W. Baird set a $410.00 price objective on Visa and gave the stock an "outperform" rating in a research report on Monday, October 6th. Erste Group Bank downgraded Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. Finally, Wells Fargo & Company set a $412.00 price target on Visa and gave the stock an "overweight" rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and an average price target of $389.74.

Visa Stock Up 0.8%

Shares of NYSE V opened at $347.17 on Wednesday. The stock has a market cap of $636.29 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 2.04 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 52-week low of $280.78 and a 52-week high of $375.51. The business has a 50-day moving average price of $344.68 and a 200 day moving average price of $347.11.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.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 firm earned $2.42 EPS. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders 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 presently 23.05%.

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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