Eagle Bay Advisors LLC Lowers Position in Visa Inc. (NYSE:V)

Eagle Bay Advisors LLC lessened its stake in Visa Inc. (NYSE:V) by 11.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,731 shares of the credit-card processor’s stock after selling 227 shares during the period. Eagle Bay Advisors LLC’s holdings in Visa were worth $547,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Peterson Financial Group Inc. purchased a new position in shares of Visa during the 3rd quarter valued at approximately $26,000. Reston Wealth Management LLC purchased a new position in shares of Visa during the 3rd quarter valued at approximately $31,000. Modus Advisors LLC purchased a new position in shares of Visa during the 4th quarter valued at approximately $32,000. Fairway Wealth LLC purchased a new position in shares of Visa during the 2nd quarter valued at approximately $39,000. Finally, West Financial Advisors LLC lifted its position in shares of Visa by 101.4% during the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock valued at $40,000 after buying an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Down 1.1 %

Visa stock traded down $3.26 during midday trading on Monday, reaching $304.45. 1,944,024 shares of the stock traded hands, compared to its average volume of 4,970,514. The company has a 50-day simple moving average of $312.14 and a two-hundred day simple moving average of $287.04. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $321.61. The firm has a market cap of $567.15 billion, a PE ratio of 31.29, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. 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 earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The company 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%. Visa’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the business posted $2.33 EPS. Research analysts expect that Visa Inc. will post 11.23 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Insider Activity

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on V shares. Jefferies Financial Group increased their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup increased their price objective on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Robert W. Baird increased their price objective on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Macquarie increased their price objective on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Bank of America increased their price objective on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $330.85.

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.