Norden Group LLC Sells 1,052 Shares of Visa Inc. (NYSE:V)

Norden Group LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 5.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,818 shares of the credit-card processor’s stock after selling 1,052 shares during the period. Visa accounts for about 0.9% of Norden Group LLC’s holdings, making the stock its 23rd largest holding. Norden Group LLC’s holdings in Visa were worth $4,414,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. SRS Capital Advisors Inc. raised its position in shares of Visa by 15.4% in the 2nd quarter. SRS Capital Advisors Inc. now owns 12,281 shares of the credit-card processor’s stock worth $3,223,000 after acquiring an additional 1,636 shares in the last quarter. Motiv8 Investments LLC raised its position in shares of Visa by 11.2% in the 2nd quarter. Motiv8 Investments LLC now owns 2,441 shares of the credit-card processor’s stock worth $641,000 after acquiring an additional 246 shares in the last quarter. Mine & Arao Wealth Creation & Management LLC. grew its stake in shares of Visa by 4.2% in the 2nd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 12,865 shares of the credit-card processor’s stock worth $3,377,000 after buying an additional 516 shares during the last quarter. Chicago Capital LLC grew its stake in shares of Visa by 2.9% in the 2nd quarter. Chicago Capital LLC now owns 384,891 shares of the credit-card processor’s stock worth $101,022,000 after buying an additional 10,900 shares during the last quarter. Finally, One Wealth Management Investment & Advisory Services LLC grew its stake in shares of Visa by 3.4% in the 2nd quarter. One Wealth Management Investment & Advisory Services LLC now owns 7,512 shares of the credit-card processor’s stock worth $1,972,000 after buying an additional 245 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

Visa Trading Up 0.3 %

Shares of Visa stock traded up $0.75 on Friday, hitting $279.37. 7,187,805 shares of the company traded hands, compared to its average volume of 7,125,969. The stock’s 50 day moving average price is $266.53 and its 200-day moving average price is $273.14. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $290.96. The company has a market cap of $509.10 billion, a PE ratio of 31.23, a PEG ratio of 1.98 and a beta of 0.96.

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

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is presently 23.24%.

Analyst Ratings Changes

Several analysts recently weighed in on V shares. Jefferies Financial Group cut their price target on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research note on Tuesday. Compass Point assumed coverage on Visa in a research note on Wednesday. They set a “buy” rating and a $319.00 target price on the stock. Finally, TD Cowen dropped their price target on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $309.54.

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.