Concentric Capital Strategies LP Decreases Stake in Visa Inc. (NYSE:V)

Concentric Capital Strategies LP lessened its stake in shares of Visa Inc. (NYSE:V) by 36.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,399 shares of the credit-card processor’s stock after selling 10,470 shares during the period. Concentric Capital Strategies LP’s holdings in Visa were worth $5,059,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Arjuna Capital raised its stake in Visa by 0.8% in the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after acquiring an additional 96 shares during the last quarter. Custom Index Systems LLC purchased a new position in shares of Visa in the third quarter worth about $731,000. Mechanics Bank Trust Department lifted its holdings in shares of Visa by 8.0% during the second quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock worth $8,520,000 after purchasing an additional 2,410 shares during the period. Chicago Capital LLC boosted its position in Visa by 5.2% in the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after buying an additional 20,023 shares during the last quarter. Finally, FORA Capital LLC acquired a new position in Visa in the 3rd quarter worth approximately $7,987,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 0.1 %

Shares of V opened at $315.08 on Monday. The stock has a market cap of $586.96 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.12 and a beta of 0.95. The firm’s fifty day moving average is $292.09 and its two-hundred day moving average is $278.55. Visa Inc. has a 52-week low of $252.14 and a 52-week high of $316.37. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The firm 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 firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.33 earnings per share. Research analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s payout ratio is presently 24.25%.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The shares were 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 in the company, valued at $148,687.06. This trade represents a 94.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

V has been the topic of several recent research reports. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. BMO Capital Markets increased their price target on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their price objective on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their target price on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird lifted their price target on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report 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 company. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and an average target price of $321.74.

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.