Great Lakes Advisors LLC Sells 640 Shares of Visa Inc. (NYSE:V)

Great Lakes Advisors LLC cut its stake in shares of Visa Inc. (NYSE:V) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,427 shares of the credit-card processor’s stock after selling 640 shares during the quarter. Great Lakes Advisors LLC’s holdings in Visa were worth $9,300,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research firms have weighed in on V. Citigroup restated a “neutral” rating on shares of Visa in a report on Thursday, February 13th. Piper Sandler restated an “overweight” rating and set a $383.00 price objective (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. StockNews.com downgraded shares of Visa from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Raymond James reiterated an “outperform” rating and issued a $393.00 target price (up previously from $374.00) on shares of Visa in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the sale, the insider now directly owns 36,566 shares in the company, valued at $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,505 shares of company stock valued at $22,290,507 over the last three months. 0.13% of the stock is owned by corporate insiders.

Visa Price Performance

V stock opened at $333.01 on Thursday. The firm has a 50 day moving average of $337.35 and a 200-day moving average of $310.05. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The firm has a market capitalization of $618.66 billion, a P/E ratio of 33.57, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

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.