Private Client Services LLC Decreases Stock Position in Visa Inc. (NYSE:V)

Private Client Services LLC lessened its stake in Visa Inc. (NYSE:V) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,756 shares of the credit-card processor’s stock after selling 33 shares during the period. Private Client Services LLC’s holdings in Visa were worth $555,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Worth Asset Management LLC increased its position in shares of Visa by 4.1% in the fourth quarter. Worth Asset Management LLC now owns 2,003 shares of the credit-card processor’s stock valued at $633,000 after acquiring an additional 79 shares during the period. Sterneck Capital Management LLC bought a new stake in shares of Visa in the fourth quarter worth about $248,000. Innova Wealth Partners purchased a new position in Visa during the 4th quarter valued at about $311,000. Legend Financial Advisors Inc. raised its position in Visa by 1,558.0% during the 4th quarter. Legend Financial Advisors Inc. now owns 1,658 shares of the credit-card processor’s stock valued at $524,000 after purchasing an additional 1,558 shares during the last quarter. Finally, One Wealth Capital Management LLC purchased a new stake in Visa in the 4th quarter worth approximately $2,012,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on V shares. Morgan Stanley upped their target price on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Bank of America raised their price objective on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Mizuho upped their target price on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Visa from $335.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $329.70.

Visa Price Performance

Shares of NYSE:V traded up $1.55 during mid-day trading on Wednesday, reaching $313.22. The stock had a trading volume of 2,691,117 shares, compared to its average volume of 4,745,194. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $321.61. The company has a market cap of $583.49 billion, a P/E ratio of 32.19, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The business’s 50 day moving average price is $310.90 and its 200 day moving average price is $286.27. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.33 earnings per share. Research analysts expect that Visa Inc. will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. Visa’s payout ratio is 24.25%.

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.