Maverick Capital Ltd. Cuts Holdings in Visa Inc. (NYSE:V)

Maverick Capital Ltd. lowered its stake in Visa Inc. (NYSE:V - Free Report) by 16.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 492,259 shares of the credit-card processor's stock after selling 97,853 shares during the period. Visa comprises 2.6% of Maverick Capital Ltd.'s investment portfolio, making the stock its 12th biggest position. Maverick Capital Ltd.'s holdings in Visa were worth $135,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in V. Peterson Financial Group Inc. purchased a new position in shares of Visa in the 3rd quarter valued at about $26,000. POM Investment Strategies LLC increased its stake in 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 last quarter. Reston Wealth Management LLC acquired a new stake in Visa during the third quarter worth approximately $31,000. TruNorth Capital Management LLC lifted 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 during the last quarter. Finally, Abich Financial Wealth Management LLC boosted its holdings in shares of Visa by 52.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor's stock valued at $37,000 after buying an additional 46 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

V opened at $315.07 on Friday. The stock's 50 day simple moving average is $292.09 and its 200 day simple moving average is $278.56. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market cap of $586.94 billion, a P/E ratio of 32.38, a P/E/G ratio of 2.11 and a beta of 0.95. Visa Inc. has a 1-year low of $252.14 and a 1-year high of $316.37.

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

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This is a positive change from Visa's previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. Visa's dividend payout ratio is currently 24.25%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm'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 directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 94.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the business's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now owns 17,894 shares of the company's stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Visa from $279.00 to $308.00 and gave the company a "neutral" rating in a research report on Tuesday, September 17th. The Goldman Sachs Group reissued a "buy" rating and issued a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Robert W. Baird raised their price target on Visa from $330.00 to $340.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Oppenheimer reiterated an "outperform" rating and issued a $321.00 price objective (up previously from $318.00) on shares of Visa in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Visa from $290.00 to $320.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and an average price target of $321.74.

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.

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