Princeton Capital Management LLC Trims Stock Position in Visa Inc. (NYSE:V)

Princeton Capital Management LLC cut its holdings in shares of Visa Inc. (NYSE:V) by 66.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,414 shares of the credit-card processor’s stock after selling 4,753 shares during the quarter. Princeton Capital Management LLC’s holdings in Visa were worth $664,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Peterson Financial Group Inc. purchased a new position in shares of Visa in the 3rd quarter worth about $26,000. POM Investment Strategies LLC grew its stake 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 buying an additional 97 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Visa in the third quarter valued at about $31,000. TruNorth Capital Management LLC grew its stake in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares in the last quarter. Finally, Abich Financial Wealth Management LLC grew its stake in shares of Visa by 52.9% in the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after buying an additional 46 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on V shares. Morgan Stanley increased their target price on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Oppenheimer reiterated an “outperform” rating and issued a $321.00 target price (up previously from $318.00) on shares of Visa in a research report on Wednesday, October 30th. William Blair upgraded Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Visa from $300.00 to $340.00 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 assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 completion of 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 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Visa Stock Up 0.8 %

Shares of V stock opened at $312.16 on Tuesday. Visa Inc. has a 1 year low of $245.60 and a 1 year high of $312.44. The stock has a market cap of $568.85 billion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. The business’s fifty day moving average is $287.57 and its 200-day moving average is $276.32. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) 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 analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.33 EPS. Equities analysts expect that Visa Inc. will post 11.19 earnings per share for the current fiscal 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 issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

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.