Lindbrook Capital LLC Sells 1,328 Shares of Visa Inc. (NYSE:V)

Lindbrook Capital LLC lowered its holdings in shares of Visa Inc. (NYSE:V) by 10.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,346 shares of the credit-card processor’s stock after selling 1,328 shares during the quarter. Lindbrook Capital LLC’s holdings in Visa were worth $3,120,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. POM Investment Strategies LLC boosted its holdings 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 shares of Visa in the 3rd quarter worth $31,000. TruNorth Capital Management LLC grew its position 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 worth $34,000 after buying an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC purchased a new position in shares of Visa during the second quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Visa in the second quarter valued at about $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.7 %

Visa stock opened at $307.87 on Friday. The stock has a 50-day moving average price of $283.95 and a 200 day moving average price of $274.67. The company has a market capitalization of $561.03 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. Visa Inc. has a 52 week low of $240.97 and a 52 week high of $311.15. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.33 EPS. Sell-side analysts anticipate that Visa Inc. will post 11.18 EPS for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.77%. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 21.38%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. BMO Capital Markets lifted their price objective on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Susquehanna upped their target price on Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Macquarie upped their price objective on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

Visa 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.