StrongBox Wealth LLC trimmed its holdings in Visa Inc. (NYSE:V – Get Rating) by 5.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,010 shares of the credit-card processor’s stock after selling 1,020 shares during the quarter. Visa accounts for about 2.5% of StrongBox Wealth LLC’s portfolio, making the stock its 11th biggest holding. StrongBox Wealth LLC’s holdings in Visa were worth $3,534,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Global Wealth Strategies & Associates purchased a new stake in Visa during the fourth quarter valued at about $26,000. JDM Financial Group LLC purchased a new stake in Visa during the fourth quarter valued at about $29,000. McClarren Financial Advisors Inc. purchased a new stake in Visa during the third quarter valued at about $26,000. McElhenny Sheffield Capital Management LLC purchased a new stake in Visa during the fourth quarter valued at about $31,000. Finally, Cowa LLC purchased a new stake in Visa during the third quarter valued at about $29,000. 81.87% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, insider Rajat Taneja sold 61,721 shares of the stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $229.92, for a total value of $14,190,892.32. Following the completion of the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at $53,367,191.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Julie B. Rottenberg sold 13,394 shares of the stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $219.00, for a total value of $2,933,286.00. Following the completion of the sale, the general counsel now directly owns 4,583 shares of the company’s stock, valued at $1,003,677. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rajat Taneja sold 61,721 shares of the stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $229.92, for a total value of $14,190,892.32. Following the completion of the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at $53,367,191.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,312 shares of company stock valued at $33,751,165. 0.22% of the stock is owned by company insiders.
Visa Trading Down 0.7 %
Visa (NYSE:V – Get Rating) last announced its quarterly earnings results on Thursday, January 26th. The credit-card processor reported $2.18 EPS for the quarter, beating the consensus estimate of $2.01 by $0.17. Visa had a return on equity of 49.95% and a net margin of 50.28%. The company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same quarter last year, the company posted $1.81 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 8.43 EPS for the current year.
Visa Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.81%. This is a boost from Visa’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, February 9th. Visa’s dividend payout ratio is currently 25.17%.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on V. Redburn Partners began coverage on shares of Visa in a research report on Tuesday, November 29th. They issued a “sell” rating for the company. JPMorgan Chase & Co. increased their price target on shares of Visa from $243.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, January 27th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Thursday. Morgan Stanley increased their price target on shares of Visa from $284.00 to $288.00 and gave the stock an “overweight” rating in a research report on Friday, January 27th. Finally, Robert W. Baird increased their price target on shares of Visa from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, January 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.11.
Visa Profile
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).
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