Bahl & Gaynor Inc. Sells 4,746 Shares of Visa Inc. (NYSE:V)

Bahl & Gaynor Inc. reduced its position in Visa Inc. (NYSE:V) by 12.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,939 shares of the credit-card processor’s stock after selling 4,746 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Visa were worth $8,646,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Livelsberger Financial Advisory bought a new position in Visa during the fourth quarter valued at approximately $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa in the 1st quarter valued at $25,000. POM Investment Strategies LLC grew its holdings in shares of Visa by 970.0% during the 2nd 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 last quarter. Frank Rimerman Advisors LLC purchased a new position in Visa in the 4th quarter worth $33,000. Finally, TruNorth Capital Management LLC lifted its stake in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on V. Royal Bank of Canada cut their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Citigroup dropped their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. TD Cowen lowered their price target on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, Macquarie reiterated an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research report 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 issued a strong buy rating to the stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $309.54.

Visa Stock Down 0.5 %

Shares of NYSE:V opened at $283.96 on Thursday. The business has a 50-day moving average price of $267.62 and a 200 day moving average price of $273.21. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $517.46 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 1.97 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.16 earnings per share. Sell-side analysts expect that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.73%. Visa’s payout ratio is 23.24%.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.