Visa Inc. (NYSE:V) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC lessened its holdings in shares of Visa Inc. (NYSE:V) by 0.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 491,952 shares of the credit-card processor’s stock after selling 2,634 shares during the quarter. Visa accounts for about 0.9% of DAVENPORT & Co LLC’s investment portfolio, making the stock its 22nd largest holding. DAVENPORT & Co LLC’s holdings in Visa were worth $155,409,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of V. Custom Index Systems LLC purchased a new position in Visa in the 3rd quarter worth approximately $731,000. Copley Financial Group Inc. acquired a new position in shares of Visa during the third quarter worth $616,000. Oak Ridge Investments LLC boosted its stake in shares of Visa by 5.9% in the fourth quarter. Oak Ridge Investments LLC now owns 75,456 shares of the credit-card processor’s stock valued at $23,847,000 after purchasing an additional 4,198 shares during the period. FORA Capital LLC acquired a new stake in Visa during the 3rd quarter valued at $7,987,000. Finally, Chicago Capital LLC increased its stake in Visa by 5.2% during the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after buying an additional 20,023 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $345.92 on Tuesday. The business has a 50 day simple moving average of $317.74 and a 200 day simple moving average of $293.27. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.28. The firm has a market capitalization of $644.41 billion, a price-to-earnings ratio of 34.87, a price-to-earnings-growth ratio of 2.30 and a beta of 0.97. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $351.25.

Visa (NYSE:V) last issued its quarterly earnings results 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 return on equity of 54.79% and a net margin of 54.27%. On average, equities research analysts anticipate that Visa Inc. will post 11.2 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa’s dividend payout ratio (DPR) is 23.79%.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the 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. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on V shares. Oppenheimer raised their target price on Visa from $375.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday. Macquarie raised 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. Wells Fargo & Company upped their target price on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday. Keefe, Bruyette & Woods lifted their price target on shares of Visa from $360.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, BMO Capital Markets increased their price objective on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $354.73.

Visa 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.