Sierra Summit Advisors LLC Trims Position in Visa Inc. (NYSE:V)

Sierra Summit Advisors LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 46.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 972 shares of the credit-card processor’s stock after selling 840 shares during the period. Sierra Summit Advisors LLC’s holdings in Visa were worth $307,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of Visa by 75.8% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 464 shares of the credit-card processor’s stock worth $147,000 after buying an additional 200 shares during the last quarter. Polymer Capital Management HK LTD acquired a new position in Visa in the fourth quarter valued at approximately $316,000. Aristides Capital LLC boosted its position in Visa by 12.1% in the 4th quarter. Aristides Capital LLC now owns 7,850 shares of the credit-card processor’s stock worth $2,481,000 after purchasing an additional 850 shares in the last quarter. Ashburton Jersey Ltd grew its stake in shares of Visa by 35.4% during the 4th quarter. Ashburton Jersey Ltd now owns 72,831 shares of the credit-card processor’s stock worth $23,018,000 after purchasing an additional 19,057 shares during the period. Finally, Federated Hermes Inc. grew 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 period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Visa stock opened at $311.93 on Tuesday. 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 stock has a market cap of $579.50 billion, a P/E ratio of 31.44, a PEG ratio of 2.33 and a beta of 0.94. The company has a 50-day moving average price of $344.58 and a 200 day moving average price of $317.46. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating the consensus estimate 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 anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio is presently 23.79%.

Insider Buying and Selling

In other Visa news, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the transaction, the chief accounting officer now directly owns 4,488 shares in the company, valued at $1,569,094.56. This represents a 34.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the sale, the insider now directly owns 36,566 shares of the company’s stock, valued at $12,789,689.82. The trade was 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. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on V. Citigroup restated a “neutral” rating on shares of Visa in a research note on Thursday, February 13th. Oppenheimer restated an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Barclays boosted their price target on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Morgan Stanley increased 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. Six investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $355.84.

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.