Bartlett & CO. Wealth Management LLC Sells 276 Shares of Visa Inc. (NYSE:V)

Bartlett & CO. Wealth Management LLC lessened its stake in shares of Visa Inc. (NYSE:V) by 1.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 25,749 shares of the credit-card processor’s stock after selling 276 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Visa were worth $7,080,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Visa by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after purchasing an additional 788,908 shares during the period. Capital International Investors raised its holdings in Visa by 2.7% in the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after acquiring an additional 626,618 shares in the last quarter. Capital World Investors raised its holdings in Visa by 5.4% in the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after acquiring an additional 968,008 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Visa by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after acquiring an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Visa by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after acquiring an additional 312,286 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

V has been the subject of several recent research reports. Royal Bank of Canada cut their price target on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Robert W. Baird upped their price target on Visa from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday. Compass Point initiated coverage on Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target for the company. TD Cowen dropped their target price on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.19.

Visa Stock Up 0.1 %

NYSE:V opened at $290.62 on Friday. Visa Inc. has a 12-month low of $228.03 and a 12-month high of $293.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $531.53 billion, a P/E ratio of 32.47, a P/E/G ratio of 1.94 and a beta of 0.96. The stock’s fifty day simple moving average is $276.91 and its 200-day simple moving average is $272.91.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period last year, the company earned $2.16 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. Equities research analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.72%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is presently 23.24%.

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.