Buckingham Capital Management Inc. Sells 632 Shares of Visa Inc. (NYSE:V)

Buckingham Capital Management Inc. reduced its stake in shares of Visa Inc. (NYSE:V) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 52,885 shares of the credit-card processor’s stock after selling 632 shares during the quarter. Visa comprises 1.9% of Buckingham Capital Management Inc.’s portfolio, making the stock its 16th biggest holding. Buckingham Capital Management Inc.’s holdings in Visa were worth $12,559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Steigerwald Gordon & Koch Inc. grew its stake in shares of Visa by 1.2% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 77,046 shares of the credit-card processor’s stock valued at $17,371,000 after buying an additional 951 shares during the last quarter. Atomi Financial Group Inc. bought a new stake in shares of Visa in the first quarter worth about $677,000. Point72 Europe London LLP grew its stake in shares of Visa by 56.4% in the fourth quarter. Point72 Europe London LLP now owns 24,871 shares of the credit-card processor’s stock worth $5,167,000 after purchasing an additional 8,971 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Visa by 9.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 371,379 shares of the credit-card processor’s stock worth $83,731,000 after purchasing an additional 30,849 shares during the last quarter. Finally, BerganKDV Wealth Management LLC grew its stake in shares of Visa by 7.9% in the first quarter. BerganKDV Wealth Management LLC now owns 24,257 shares of the credit-card processor’s stock worth $5,469,000 after purchasing an additional 1,773 shares during the last quarter. 81.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Robert W. Baird reissued an “outperform” rating and issued a $284.00 target price on shares of Visa in a research note on Thursday, September 14th. Raymond James raised their target price on Visa from $282.00 to $284.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. Barclays raised their target price on Visa from $272.00 to $287.00 and gave the stock an “overweight” rating in a research note on Monday, July 24th. Susquehanna raised their price objective on shares of Visa from $266.00 to $300.00 in a report on Wednesday, July 26th. Finally, Mizuho restated a “neutral” rating and issued a $255.00 price objective on shares of Visa in a report on Tuesday, August 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $273.77.

Insiders Place Their Bets

In other Visa news, insider Rajat Taneja sold 15,800 shares of Visa stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total value of $3,950,158.00. Following the completion of the sale, the insider now owns 232,112 shares of the company’s stock, valued at approximately $58,030,321.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Rajat Taneja sold 15,800 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the completion of the sale, the insider now owns 232,112 shares of the company’s stock, valued at approximately $58,030,321.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $247.47, for a total transaction of $2,016,880.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,550 shares of company stock valued at $19,795,806. Company insiders own 0.21% of the company’s stock.

Visa Price Performance

Shares of V opened at $244.64 on Tuesday. The company has a market capitalization of $455.48 billion, a P/E ratio of 31.05, a price-to-earnings-growth ratio of 1.81 and a beta of 0.95. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average of $241.67 and a 200 day moving average of $232.37. Visa Inc. has a twelve month low of $174.60 and a twelve month high of $250.06.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.05. Visa had a net margin of 51.94% and a return on equity of 49.42%. The company had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter last year, the firm earned $1.98 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Visa Inc. will post 8.65 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Thursday, August 10th. Visa’s dividend payout ratio (DPR) is presently 22.84%.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.