Cerity Partners LLC Has $276.41 Million Position in Visa Inc. (NYSE:V)

Cerity Partners LLC lessened its stake in Visa Inc. (NYSE:V) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 897,281 shares of the credit-card processor’s stock after selling 40,424 shares during the quarter. Visa accounts for about 0.6% of Cerity Partners LLC’s holdings, making the stock its 28th biggest position. Cerity Partners LLC’s holdings in Visa were worth $276,413,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of Visa by 75.8% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 464 shares of the credit-card processor’s stock valued at $147,000 after buying an additional 200 shares during the last quarter. Polymer Capital Management HK LTD bought a new position in Visa during the fourth quarter valued at approximately $316,000. Aristides Capital LLC lifted its stake in Visa by 12.1% in the fourth quarter. Aristides Capital LLC now owns 7,850 shares of the credit-card processor’s stock valued at $2,481,000 after acquiring an additional 850 shares during the last quarter. Ashburton Jersey Ltd grew its position in Visa by 35.4% in the fourth quarter. Ashburton Jersey Ltd now owns 72,831 shares of the credit-card processor’s stock worth $23,018,000 after acquiring an additional 19,057 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Visa by 2.2% during the 4th quarter. Federated Hermes Inc. now owns 582,195 shares of the credit-card processor’s stock worth $183,997,000 after purchasing an additional 12,287 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the sale, the insider now owns 26,413 shares of the company’s stock, valued at approximately $8,642,333.60. This represents a 59.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction dated 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 transaction, the insider now directly owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,205 shares of company stock valued at $48,842,490. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on V. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Visa in a report on Thursday, February 13th. Bank of America upped their price target on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Piper Sandler reissued an “overweight” rating and issued a $383.00 price objective (up from $368.00) on shares of Visa in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their target price on Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company lifted their price target on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $355.84.

Visa Stock Performance

Shares of NYSE V opened at $313.46 on Monday. Visa Inc. has a one year low of $252.70 and a one year high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $345.02 and a 200 day simple moving average of $317.27. The firm has a market capitalization of $582.34 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping 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%. Sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. Visa’s dividend payout ratio is currently 23.79%.

Visa Company 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.