International Assets Investment Management LLC reduced its holdings in Visa Inc. (NYSE:V – Get Rating) by 32.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 8,587 shares of the credit-card processor’s stock after selling 4,111 shares during the quarter. International Assets Investment Management LLC’s holdings in Visa were worth $831,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Occidental Asset Management LLC increased its position in shares of Visa by 4.3% during the fourth quarter. Occidental Asset Management LLC now owns 11,195 shares of the credit-card processor’s stock worth $2,326,000 after buying an additional 465 shares during the period. Private Trust Co. NA increased its position in shares of Visa by 1.7% during the fourth quarter. Private Trust Co. NA now owns 8,208 shares of the credit-card processor’s stock worth $1,705,000 after buying an additional 140 shares during the period. Foster Group Inc. acquired a new stake in shares of Visa during the fourth quarter worth $210,000. First City Capital Management Inc. acquired a new stake in shares of Visa during the third quarter worth $213,000. Finally, Capital Investment Advisors LLC increased its position in shares of Visa by 4.0% during the fourth quarter. Capital Investment Advisors LLC now owns 23,619 shares of the credit-card processor’s stock worth $4,907,000 after buying an additional 899 shares during the period. 81.87% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, President Ryan Mcinerney sold 58,197 shares of the firm’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $62.47, for a total transaction of $3,635,566.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Ryan Mcinerney sold 58,197 shares of the firm’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $62.47, for a total transaction of $3,635,566.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rajat Taneja sold 61,721 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $229.92, for a total transaction of $14,190,892.32. Following the completion of the sale, the insider now directly owns 232,112 shares in the company, valued at approximately $53,367,191.04. The disclosure for this sale can be found here. Insiders sold a total of 191,312 shares of company stock worth $33,751,165 over the last quarter. Insiders own 0.21% of the company’s stock.
Visa Stock Performance
Visa (NYSE:V – Get Rating) last announced its 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. The company had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.70 billion. Visa had a net margin of 50.28% and a return on equity of 49.95%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.81 earnings per share. Equities research analysts forecast that Visa Inc. will post 8.43 EPS for the current fiscal year.
Visa Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $1.80 annualized dividend and a dividend yield of 0.79%. This is an increase from Visa’s previous quarterly dividend of $0.40. Visa’s dividend payout ratio is currently 25.17%.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the stock. Robert W. Baird increased their price objective 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. JPMorgan Chase & Co. increased their target price on shares of Visa from $243.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, January 27th. Jefferies Financial Group increased their target price on shares of Visa from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, January 18th. Barclays increased their target price on shares of Visa from $266.00 to $270.00 and gave the stock an “overweight” rating in a research note on Sunday, January 29th. Finally, Wells Fargo & Company increased their target price on shares of Visa from $250.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, January 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $259.11.
About Visa
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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