Garde Capital Inc. Sells 53 Shares of Visa Inc. (NYSE:V)

Garde Capital Inc. reduced its stake in Visa Inc. (NYSE:V) by 2.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,435 shares of the credit-card processor’s stock after selling 53 shares during the quarter. Garde Capital Inc.’s holdings in Visa were worth $670,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Arjuna Capital grew its stake in Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after buying an additional 96 shares during the last quarter. Custom Index Systems LLC acquired a new stake in Visa during the 3rd quarter valued at $731,000. FORA Capital LLC bought a new position in Visa in the 3rd quarter valued at $7,987,000. Chicago Capital LLC boosted its stake in Visa by 5.2% in the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after purchasing an additional 20,023 shares in the last quarter. Finally, Nexus Investment Management ULC grew its holdings in shares of Visa by 5,034.0% during the third quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock worth $15,499,000 after purchasing an additional 55,273 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.19% of the company’s stock.

Visa Trading Up 0.1 %

V opened at $314.23 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $585.37 billion, a P/E ratio of 32.29, a P/E/G ratio of 2.11 and a beta of 0.96. The firm’s fifty day simple moving average is $298.56 and its 200 day simple moving average is $280.71. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $317.42.

Visa (NYSE:V) last released its earnings results 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 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 business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.33 EPS. As a group, research analysts anticipate that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio is 24.25%.

Wall Street Analysts Forecast Growth

V has been the topic of a number of research analyst reports. Citigroup increased their price objective on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Bank of America increased their price target on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Susquehanna boosted their price objective on shares of Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a research report on Wednesday. Macquarie increased their price objective on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley boosted their target price on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $324.74.

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.