American International Group Inc. Lowers Stock Holdings in Visa Inc. (NYSE:V)

American International Group Inc. lowered its stake in shares of Visa Inc. (NYSE:V) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 490,760 shares of the credit-card processor’s stock after selling 5,697 shares during the quarter. Visa comprises about 0.5% of American International Group Inc.’s holdings, making the stock its 14th largest position. American International Group Inc.’s holdings in Visa were worth $127,769,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Nadler Financial Group Inc. lifted its position in Visa by 2.4% in the fourth quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after purchasing an additional 44 shares during the period. Towerpoint Wealth LLC acquired a new stake in Visa in the fourth quarter valued at about $216,000. Andrew Hill Investment Advisors Inc. acquired a new stake in Visa in the fourth quarter valued at about $3,427,000. Richelieu Gestion SA acquired a new stake in Visa in the fourth quarter valued at about $307,000. Finally, Cooper Financial Group lifted its position in Visa by 6.4% in the fourth quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock valued at $2,064,000 after purchasing an additional 476 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 0.2 %

NYSE:V traded down $0.53 on Friday, reaching $270.66. The stock had a trading volume of 8,537,260 shares, compared to its average volume of 5,425,052. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12-month low of $221.37 and a 12-month high of $290.96. The company has a 50-day moving average of $274.17 and a 200 day moving average of $272.22. The stock has a market cap of $495.02 billion, a P/E ratio of 30.24, a price-to-earnings-growth ratio of 1.86 and a beta of 0.97.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter last year, the company posted $2.09 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, research analysts predict that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. Visa’s dividend payout ratio is currently 23.24%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on V. Evercore ISI lifted their price target on shares of Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Macquarie lifted their price objective on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Robert W. Baird upped their target price on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. TD Cowen began coverage on Visa in a research note on Thursday, April 11th. They issued a “buy” rating and a $320.00 target price on the stock. Finally, Citigroup upped their target price on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $303.76.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Visa news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,402 shares of company stock worth $9,559,382. 0.19% of the stock is owned by insiders.

About Visa

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.