Envestnet Portfolio Solutions Inc. Sells 1,548 Shares of Visa Inc. (NYSE:V)

Envestnet Portfolio Solutions Inc. lessened its stake in shares of Visa Inc. (NYSE:V) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 182,295 shares of the credit-card processor’s stock after selling 1,548 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Visa were worth $57,612,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in V. Raymond James Financial Inc. bought a new position in Visa in the fourth quarter valued at about $1,955,403,000. Proficio Capital Partners LLC increased its position in shares of Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after purchasing an additional 3,926,049 shares during the last quarter. State Street Corp lifted its stake in shares of Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares during the period. FMR LLC boosted its holdings in shares of Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after buying an additional 3,265,518 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Visa by 7.7% during the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after buying an additional 2,772,549 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 1.0 %

Shares of NYSE:V opened at $331.72 on Friday. The company has a market cap of $616.26 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 2.33 and a beta of 0.95. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $337.96 and a 200 day moving average price of $310.90.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating 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 predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is 23.79%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Raymond James reiterated an “outperform” rating and issued a $393.00 price target (up from $374.00) on shares of Visa in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Barclays boosted their price target on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Piper Sandler restated an “overweight” rating and issued a $383.00 price target (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Finally, Citigroup reaffirmed a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $353.96.

Insider Activity

In related news, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the sale, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at approximately $1,569,094.56. This trade represents a 34.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,855 shares of company stock valued at $35,165,827. 0.13% of the stock is currently owned by company insiders.

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.