Aigen Investment Management LP Reduces Stock Position in Visa Inc. (NYSE:V)

Aigen Investment Management LP trimmed its position in Visa Inc. (NYSE:V) by 74.4% during the third quarter, Holdings Channel.com reports. The firm owned 4,724 shares of the credit-card processor’s stock after selling 13,730 shares during the period. Aigen Investment Management LP’s holdings in Visa were worth $1,299,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. POM Investment Strategies LLC grew 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 valued at $28,000 after purchasing an additional 97 shares during the period. Reston Wealth Management LLC purchased a new stake in Visa in the 3rd quarter valued at about $31,000. TruNorth Capital Management LLC increased its stake in shares of 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 acquiring an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC purchased a new position in shares of Visa during the 2nd quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Visa in the second quarter worth approximately $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of V stock opened at $309.82 on Wednesday. The company’s 50-day simple moving average is $284.64 and its 200-day simple moving average is $274.92. Visa Inc. has a one year low of $244.11 and a one year high of $312.44. The stock has a market capitalization of $564.59 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 2.08 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.33 earnings per share. Equities analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued 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 dividend yield of 0.76%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is currently 21.38%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on V. William Blair raised shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. BMO Capital Markets lifted their target price on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada upped their price target on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Barclays boosted their target price on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.19% of the stock is owned by insiders.

About Visa

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.