Visa Inc. $V Stock: Focused Wealth Management Inc Decreases Stake

Key Points

• Focused Wealth Management cut its Visa stake by 52.9% in the third quarter, selling 4,159 shares and ending the period with 3,700 shares worth about $1.33 million. Institutional investors collectively own 82.15% of Visa’s stock.
• Visa’s latest quarterly results topped estimates: EPS was $3.48 versus $3.44 expected, while revenue rose 13.2% year over year to $12.14 billion. The company also increased its quarterly dividend from $0.67 to $0.78 per share.
• Analysts remain broadly positive, with a consensus “Buy” rating and an average price target of $440.03. CEO Ryan McInerney sold 5,875 shares under a pre-arranged trading plan.

Focused Wealth Management Inc decreased its position in shares of Visa Inc. (NYSE:V - Free Report) by 52.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,700 shares of the credit-card processor's stock after selling 4,159 shares during the quarter. Focused Wealth Management Inc's holdings in Visa were worth $1,330,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Beacon Capital Management LLC grew its holdings in shares of Visa by 2.0% in the third quarter. Beacon Capital Management LLC now owns 1,283 shares of the credit-card processor's stock valued at $461,000 after purchasing an additional 25 shares during the period. Argyle Capital Partners LLC boosted its holdings in Visa by 0.7% in the 3rd quarter. Argyle Capital Partners LLC now owns 3,912 shares of the credit-card processor's stock valued at $1,406,000 after purchasing an additional 27 shares during the last quarter. Verus Financial Partners Inc. grew its stake in shares of Visa by 3.7% in the 3rd quarter. Verus Financial Partners Inc. now owns 752 shares of the credit-card processor's stock valued at $270,000 after buying an additional 27 shares during the period. Concorde Asset Management LLC grew its stake in shares of Visa by 4.0% in the 2nd quarter. Concorde Asset Management LLC now owns 728 shares of the credit-card processor's stock valued at $250,000 after buying an additional 28 shares during the period. Finally, Ellis Investment Partners LLC grew its stake in shares of Visa by 2.1% in the 3rd quarter. Ellis Investment Partners LLC now owns 1,363 shares of the credit-card processor's stock valued at $490,000 after buying an additional 28 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Trending Headlines about Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Verifone has deployed Visa’s Featurespace fraud-screening technology across its payment gateways. The system assesses transactions in real time across in-store, online and mobile channels, giving Visa another opportunity to expand its fraud-prevention services; the announcements did not disclose the financial size of the deal. Article: Verifone Turns to Visa’s Featurespace to Combat Fraud
• Positive Sentiment: Visa raised its quarterly dividend from $0.67 to $0.78 per share, an increase of more than 16%. The hike signals confidence in cash generation and adds to shareholder returns, although the yield is still relatively low. Article: Visa Just Hiked Its Dividend
• Positive Sentiment: Visa’s latest reported quarter beat analyst expectations for earnings and revenue, with revenue up 13.2% year over year. That performance offers support for the growth outlook behind the dividend increase. Article: Will Earnings Beat Change Visa Stock’s Narrative
• Neutral Sentiment: Former Visa chairman and CEO Joseph Saunders, who led the company through its IPO, has died. The report is a tribute to his legacy and does not indicate an effect on Visa’s current operations. Article: Former Visa CEO Joseph Saunders Dies
• Negative Sentiment: A recent article cautioned investors about buying after Visa’s strong share-price run, noting the relatively low dividend yield. Separately, CEO Ryan McInerney sold 5,875 shares; the transaction was made under a pre-arranged trading plan, which tempers its significance as an outlook signal. Article: Visa Just Hiked Its Dividend Visa insider-trading report

Analyst Ratings Changes

Several equities analysts have weighed in on V shares. Argus lifted their target price on Visa from $396.00 to $420.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $466.00 price target on shares of Visa in a report on Wednesday, October 28th. Piper Sandler reiterated an "overweight" rating and issued a $479.00 price objective (up from $430.00) on shares of Visa in a report on Wednesday, October 28th. Oppenheimer raised their target price on Visa from $403.00 to $440.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 28th. Finally, Bank of America boosted their target price on Visa from $410.00 to $430.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating and thirty-five have issued a Buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $440.03.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 5,875 shares of Visa stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $416.22, for a total transaction of $2,445,292.50. Following the transaction, the chief executive officer directly owned 15,174 shares of the company's stock, valued at $6,315,722.28. The trade was a 27.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 1,867 shares of the business's stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $368.34, for a total transaction of $687,690.78. Following the sale, the general counsel owned 18,404 shares of the company's stock, valued at approximately $6,778,929.36. This represents a 9.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 27,395 shares of company stock valued at $10,406,050 in the last quarter. Company insiders own 0.12% of the company's stock.

Visa Stock Up 3.8%

Visa stock opened at $436.21 on Thursday. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $436.76. The firm has a market capitalization of $778.39 billion, a price-to-earnings ratio of 35.38, a price-to-earnings-growth ratio of 1.79 and a beta of 0.80. The stock's fifty day moving average is $384.21 and its two-hundred day moving average is $343.74. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.97.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.04. Visa had a net margin of 51.20% and a return on equity of 70.50%. The firm had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same period last year, the firm posted $2.98 EPS. The firm's revenue for the quarter was up 13.2% on a year-over-year basis. Analysts predict that Visa Inc. will post 15.02 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 10th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $3.12 annualized dividend and a dividend yield of 0.7%. This is an increase from Visa's previous quarterly dividend of $0.67. Visa's dividend payout ratio is presently 25.30%.

Visa Company Profile

Visa Inc NYSE: V is a global payments technology company that facilitates electronic payments between consumers, businesses, financial institutions and governments. Through its VisaNet network, the company authorizes, clears and settles transactions made with Visa-branded credit, debit and prepaid cards, while generally not issuing cards, extending credit or setting cardholder account terms.

Visa provides payment products and services for consumer, commercial and government payments, as well as digital commerce and money movement.

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