FIL Ltd Cuts Stock Position in Visa Inc. (NYSE:V)

FIL Ltd trimmed its position in shares of Visa Inc. (NYSE:V) by 7.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,730,739 shares of the credit-card processor’s stock after selling 234,188 shares during the quarter. Visa comprises about 0.8% of FIL Ltd’s investment portfolio, making the stock its 25th largest holding. FIL Ltd owned approximately 0.15% of Visa worth $863,023,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Decker Retirement Planning Inc. purchased a new stake in Visa in the fourth quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Visa in the 4th quarter valued at approximately $27,000. POM Investment Strategies LLC boosted its stake in Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares in the last quarter. Modus Advisors LLC purchased a new stake in Visa during the 4th quarter worth approximately $32,000. Finally, Compass Planning Associates Inc purchased a new position in shares of Visa in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at $188,186.28. This trade represents a 94.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,205 shares of company stock worth $48,842,490 in the last quarter. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

V has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. William Blair reissued an “outperform” rating on shares of Visa in a report on Friday, January 31st. Bank of America lifted their target price on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Raymond James reiterated an “outperform” rating and issued a $393.00 price target (up previously from $374.00) on shares of Visa in a report on Friday, January 31st. Finally, Piper Sandler reissued an “overweight” rating and set a $383.00 price target (up from $368.00) on shares of Visa in a research report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $355.84.

Visa Trading Down 0.4 %

V stock opened at $311.93 on Tuesday. The business’s 50-day moving average is $344.58 and its 200 day moving average is $317.46. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54. The stock has a market cap of $579.50 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 2.33 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio is presently 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.