Gryphon Financial Partners LLC Decreases Stock Position in Visa Inc. (NYSE:V)

Gryphon Financial Partners LLC trimmed its holdings in Visa Inc. (NYSE:V) by 2.8% during the second quarter, Holdings Channel.com reports. The fund owned 12,636 shares of the credit-card processor’s stock after selling 361 shares during the period. Visa accounts for 0.5% of Gryphon Financial Partners LLC’s investment portfolio, making the stock its 28th largest holding. Gryphon Financial Partners LLC’s holdings in Visa were worth $3,317,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory acquired a new position in Visa in the 4th quarter valued at about $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa during the first quarter worth about $25,000. POM Investment Strategies LLC raised its position in shares of 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 buying an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Visa during the fourth quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC lifted its stake 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 period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other Visa 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 directly owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

V has been the subject of several analyst reports. Royal Bank of Canada cut their price target on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Jefferies Financial Group reduced their target price on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. TD Cowen decreased their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. William Blair upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Bank of America reaffirmed a “neutral” rating and set a $297.00 price target (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $309.54.

Visa Trading Up 2.2 %

NYSE V opened at $285.61 on Tuesday. The company’s fifty day simple moving average is $266.97 and its 200-day simple moving average is $273.12. The stock has a market cap of $520.47 billion, a P/E ratio of 31.91, a PEG ratio of 1.97 and a beta of 0.96. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $290.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the previous year, the business posted $2.16 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. Equities research analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.73%. Visa’s dividend payout ratio is presently 23.24%.

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.