Hilton Capital Management LLC Sells 34,090 Shares of Visa Inc. (NYSE:V)

Hilton Capital Management LLC lowered its stake in Visa Inc. (NYSE:V - Free Report) by 97.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 875 shares of the credit-card processor's stock after selling 34,090 shares during the quarter. Hilton Capital Management LLC's holdings in Visa were worth $241,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Unionview LLC increased its position in Visa by 1.5% during the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor's stock worth $631,000 after buying an additional 33 shares during the last quarter. FWG Holdings LLC boosted its stake in shares of Visa by 1.1% during the 3rd quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor's stock worth $900,000 after acquiring an additional 34 shares during the period. St. Louis Trust Co increased its holdings in shares of Visa by 0.9% during the 3rd quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor's stock worth $1,068,000 after acquiring an additional 34 shares during the last quarter. KMG Fiduciary Partners LLC raised its stake in Visa by 0.3% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor's stock valued at $3,831,000 after acquiring an additional 37 shares during the period. Finally, Iron Horse Wealth Management LLC lifted its holdings in Visa by 15.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor's stock valued at $74,000 after purchasing an additional 37 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Visa

In related news, 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 transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company's stock, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on V. TD Cowen increased their price objective on shares of Visa from $318.00 to $325.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reissued a "buy" rating and issued a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Jefferies Financial Group boosted their price objective on Visa from $320.00 to $330.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Compass Point began coverage on Visa in a research note on Wednesday, September 4th. They set a "buy" rating and a $319.00 target price on the stock. Finally, Mizuho lifted their price objective on Visa from $279.00 to $292.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $321.74.

Visa Price Performance

NYSE:V traded up $0.36 during trading hours on Thursday, hitting $307.75. 404,098 shares of the company's stock traded hands, compared to its average volume of 6,942,583. Visa Inc. has a 52 week low of $251.61 and a 52 week high of $312.44. The business's fifty day simple moving average is $288.57 and its two-hundred day simple moving average is $276.84. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a market cap of $560.82 billion, a P/E ratio of 31.59, a P/E/G ratio of 2.09 and a beta of 0.95.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the business posted $2.33 earnings per share. Visa's revenue for the quarter was up 11.7% on a year-over-year basis. On average, research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.77%. This is a positive change from Visa's previous quarterly dividend of $0.52. Visa's payout ratio is 24.25%.

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.