Visa Inc. (NYSE:V) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC decreased its position in shares of Visa Inc. (NYSE:V - Free Report) by 22.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,828 shares of the credit-card processor's stock after selling 3,678 shares during the quarter. NorthRock Partners LLC's holdings in Visa were worth $3,527,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. POM Investment Strategies LLC raised its position in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor's stock worth $28,000 after acquiring an additional 97 shares in the last quarter. Reston Wealth Management LLC bought a new position in Visa in the third quarter worth about $31,000. TruNorth Capital Management LLC lifted its position in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor's stock valued at $34,000 after buying an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC bought a new stake in shares of Visa in the 2nd quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Visa in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.19% of the company's stock.

Visa Price Performance

NYSE V traded up $11.95 during trading hours on Wednesday, hitting $305.24. 3,227,582 shares of the company's stock traded hands, compared to its average volume of 7,022,505. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. The firm's 50-day moving average is $281.92 and its 200-day moving average is $273.97. Visa Inc. has a 52-week low of $240.97 and a 52-week high of $309.00. The company has a market capitalization of $556.24 billion, a PE ratio of 30.15, a PEG ratio of 1.96 and a beta of 0.95.

Visa (NYSE:V - Get Free Report) last posted its quarterly 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 during 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 revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.33 earnings per share. Equities analysts forecast that Visa Inc. will post 11.18 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Tuesday, November 12th. This is a positive change from Visa's previous quarterly dividend of $0.52. Visa's payout ratio is currently 21.38%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of Visa from a "moderate buy" rating to a "strong-buy" rating in a research note on Tuesday, September 24th. BMO Capital Markets raised their price objective on Visa from $310.00 to $320.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Barclays upped their target price on Visa from $319.00 to $347.00 and gave the company an "overweight" rating in a research report on Monday. Bank of America raised their price target on Visa from $279.00 to $308.00 and gave the stock a "neutral" rating in a report on Tuesday, September 17th. Finally, Monness Crespi & Hardt restated a "neutral" rating on shares of Visa in a report on Tuesday, September 24th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Visa presently has a consensus rating of "Moderate Buy" and an average target price of $321.74.

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.