Roanoke Asset Management Corp NY Decreases Position in Visa Inc. (NYSE:V)

Roanoke Asset Management Corp NY trimmed its holdings in shares of Visa Inc. (NYSE:V) by 52.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 730 shares of the credit-card processor’s stock after selling 800 shares during the period. Roanoke Asset Management Corp NY’s holdings in Visa were worth $231,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of V. Decker Retirement Planning Inc. bought a new stake in Visa during the 4th quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Visa in the fourth quarter valued at about $27,000. Peterson Financial Group Inc. purchased a new position in shares of Visa in the third quarter valued at about $26,000. POM Investment Strategies LLC raised its stake in shares of Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after acquiring an additional 32 shares during the last quarter. Finally, Modus Advisors LLC purchased a new stake in shares of Visa during the fourth quarter worth about $32,000. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

Shares of V opened at $363.33 on Friday. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $364.00. The company has a market capitalization of $674.99 billion, a P/E ratio of 36.63, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. The firm has a 50 day moving average of $333.03 and a 200 day moving average of $305.66. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Tuesday, February 11th. Visa’s payout ratio is presently 23.79%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. UBS Group upped their price target on Visa from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Piper Sandler restated an “overweight” rating and set a $383.00 target price (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. Wells Fargo & Company lifted their price target on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a report on Friday, January 31st. The Goldman Sachs Group upped their price objective on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, Barclays lifted their target price on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $353.96.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,572 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the transaction, the general counsel now directly owns 11,925 shares in the company, valued at $4,054,500. This trade represents a 17.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,885 shares of company stock worth $19,161,447 over the last three months. 0.13% of the stock is currently owned by company 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.