Visa Inc. (NYSE:V) Shares Sold by Spinnaker Trust

Spinnaker Trust trimmed its holdings in Visa Inc. (NYSE:V) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,521 shares of the credit-card processor’s stock after selling 177 shares during the quarter. Spinnaker Trust’s holdings in Visa were worth $8,117,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Donald L. Hagan LLC boosted its stake in shares of Visa by 32.1% during the 3rd quarter. Donald L. Hagan LLC now owns 1,366 shares of the credit-card processor’s stock worth $376,000 after acquiring an additional 332 shares in the last quarter. Maia Wealth LLC boosted its position in shares of Visa by 11.5% in the 3rd quarter. Maia Wealth LLC now owns 9,109 shares of the credit-card processor’s stock valued at $2,580,000 after purchasing an additional 943 shares during the period. Umpqua Bank increased its stake in Visa by 2.2% in the 3rd quarter. Umpqua Bank now owns 9,610 shares of the credit-card processor’s stock worth $2,642,000 after purchasing an additional 208 shares in the last quarter. Foster & Motley Inc. raised its holdings in Visa by 81.3% during the 3rd quarter. Foster & Motley Inc. now owns 10,301 shares of the credit-card processor’s stock worth $2,832,000 after buying an additional 4,620 shares during the period. Finally, Harvest Portfolios Group Inc. lifted its stake in Visa by 4.7% during the third quarter. Harvest Portfolios Group Inc. now owns 69,056 shares of the credit-card processor’s stock valued at $18,987,000 after buying an additional 3,071 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

NYSE V opened at $307.36 on Thursday. The company’s fifty day moving average is $282.69 and its two-hundred day moving average is $274.20. Visa Inc. has a 52-week low of $240.97 and a 52-week high of $309.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. The firm has a market capitalization of $560.11 billion, a price-to-earnings ratio of 31.59, a P/E/G ratio of 1.96 and a beta of 0.95.

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

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio is presently 21.38%.

Analyst Upgrades and Downgrades

V has been the topic of several analyst reports. Oppenheimer reissued an “outperform” rating and issued a $321.00 target price (up from $318.00) on shares of Visa in a research report on Wednesday, October 30th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Morgan Stanley upped their price target on shares of Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Citigroup upped their target price on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four 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. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $321.74.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by company insiders.

Visa Company 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.