Consolidated Capital Management LLC Reduces Stock Position in Visa Inc. (NYSE:V)

Consolidated Capital Management LLC cut its stake in shares of Visa Inc. (NYSE:V) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,869 shares of the credit-card processor’s stock after selling 322 shares during the period. Visa comprises approximately 4.0% of Consolidated Capital Management LLC’s holdings, making the stock its 11th largest position. Consolidated Capital Management LLC’s holdings in Visa were worth $9,124,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of V. Mechanics Bank Trust Department raised its position in Visa by 3.1% in the fourth quarter. Mechanics Bank Trust Department now owns 33,859 shares of the credit-card processor’s stock worth $10,701,000 after acquiring an additional 1,013 shares during the period. Seilern Investment Management Ltd bought a new position in Visa in the 4th quarter worth $12,610,000. Diversify Wealth Management LLC lifted its position in Visa by 45.5% during the fourth quarter. Diversify Wealth Management LLC now owns 21,449 shares of the credit-card processor’s stock valued at $6,600,000 after purchasing an additional 6,704 shares in the last quarter. LVW Advisors LLC grew its holdings in Visa by 2.8% during the fourth quarter. LVW Advisors LLC now owns 19,836 shares of the credit-card processor’s stock valued at $6,269,000 after purchasing an additional 533 shares during the period. Finally, Ellsworth Advisors LLC increased its position in Visa by 5.2% in the fourth quarter. Ellsworth Advisors LLC now owns 9,447 shares of the credit-card processor’s stock worth $2,986,000 after buying an additional 464 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated 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. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on V shares. Macquarie boosted their price objective on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Susquehanna upped their price objective on Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a research note on Wednesday, December 11th. BMO Capital Markets lifted their target price on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Robert W. Baird lifted their price objective on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $331.92.

Visa Trading Up 1.3 %

NYSE V opened at $323.76 on Wednesday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $324.58. The company’s 50-day moving average price is $313.59 and its 200-day moving average price is $289.09. The stock has a market cap of $603.12 billion, a PE ratio of 33.27, a PEG ratio of 2.15 and a beta of 0.96. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.33 earnings per share. Equities research analysts forecast that Visa Inc. will post 11.2 earnings per share for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a $0.59 dividend. The ex-dividend date was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.73%. Visa’s dividend payout ratio is 24.25%.

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.