Crestwood Advisors Group LLC Sells 253 Shares of Visa Inc. (NYSE:V)

Crestwood Advisors Group LLC lowered its stake in Visa Inc. (NYSE:V) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 342,417 shares of the credit-card processor’s stock after selling 253 shares during the period. Visa makes up about 1.8% of Crestwood Advisors Group LLC’s investment portfolio, making the stock its 9th largest holding. Crestwood Advisors Group LLC’s holdings in Visa were worth $94,148,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. POM Investment Strategies LLC increased its position in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares in the last quarter. Reston Wealth Management LLC purchased a new position in Visa during the 3rd quarter worth approximately $31,000. TruNorth Capital Management LLC raised its stake in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. Bbjs Financial Advisors LLC acquired a new stake in Visa during the 2nd quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Visa in the second quarter valued at $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

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 value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by insiders.

Visa Trading Up 0.5 %

Shares of NYSE:V opened at $293.36 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. The stock’s 50-day moving average is $281.92 and its 200-day moving average is $273.97. The company has a market cap of $534.59 billion, a P/E ratio of 30.15, a P/E/G ratio of 1.96 and a beta of 0.95. Visa Inc. has a 52-week low of $240.97 and a 52-week high of $296.34.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.33 EPS. Equities research analysts predict that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.80%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is 21.38%.

Analysts Set New Price Targets

V has been the topic of several recent analyst reports. William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group upped their target price on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird raised their price target on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Macquarie upped their price objective on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada increased their target price on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

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.