Quartz Partners LLC Sells 6,376 Shares of Visa Inc. (NYSE:V)

Quartz Partners LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 86.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 979 shares of the credit-card processor’s stock after selling 6,376 shares during the quarter. Quartz Partners LLC’s holdings in Visa were worth $309,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Elevation Wealth Partners LLC lifted its holdings in shares of Visa by 3.3% in the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock worth $297,000 after acquiring an additional 30 shares during the last quarter. Warther Private Wealth LLC lifted its holdings in shares of Visa by 1.0% in the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock worth $928,000 after acquiring an additional 30 shares during the last quarter. Valmark Advisers Inc. lifted its holdings in shares of Visa by 0.4% in the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock worth $2,292,000 after acquiring an additional 30 shares during the last quarter. Crescent Grove Advisors LLC lifted its holdings in shares of Visa by 2.2% in the 4th quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock worth $454,000 after acquiring an additional 31 shares during the last quarter. Finally, Vicus Capital lifted its holdings in shares of Visa by 3.1% in the 4th quarter. Vicus Capital now owns 1,032 shares of the credit-card processor’s stock worth $326,000 after acquiring an additional 31 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the sale, the insider now owns 36,566 shares in the company, valued at $12,789,689.82. This represents a 47.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $874,480.00. Following the sale, the general counsel now owns 11,925 shares of the company’s stock, valued at approximately $4,054,500. This represents a 17.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,885 shares of company stock worth $19,161,447 in the last 90 days. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Jefferies Financial Group upped their price objective on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group upped their target price on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Morgan Stanley upped their target price on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. upped their target price on shares of Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, TD Cowen upped their target price on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $353.96.

Visa Trading Down 0.4 %

NYSE V opened at $350.61 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The firm’s fifty day moving average price is $331.31 and its 200 day moving average price is $304.27. The company has a market capitalization of $651.36 billion, a price-to-earnings ratio of 35.34, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $357.15.

Visa (NYSE:V) last posted its 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 net margin of 54.27% and a return on equity of 54.79%. On average, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

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.