Resurgent Financial Advisors LLC Sells 153 Shares of Visa Inc. (NYSE:V)

Resurgent Financial Advisors LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,504 shares of the credit-card processor’s stock after selling 153 shares during the quarter. Resurgent Financial Advisors LLC’s holdings in Visa were worth $1,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Riverstone Advisors LLC purchased a new stake in shares of Visa in the fourth quarter worth about $217,000. Journey Strategic Wealth LLC raised its holdings in shares of Visa by 16.4% during the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock valued at $3,058,000 after acquiring an additional 1,361 shares during the last quarter. King Wealth Management Group increased its stake in shares of Visa by 9.0% in the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock worth $23,663,000 after acquiring an additional 6,172 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Visa in the 4th quarter valued at about $10,163,000. Finally, Copley Financial Group Inc. purchased a new position in Visa in the third quarter worth approximately $616,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the topic of a number of research reports. Evercore ISI began coverage on Visa in a research note on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price target on the stock. Citigroup reiterated a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. William Blair reissued an “outperform” rating on shares of Visa in a report on Friday, January 31st. Wells Fargo & Company boosted their target price on shares of Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Morgan Stanley raised their price objective on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average target price of $355.84.

Visa Stock Performance

Visa stock opened at $335.88 on Wednesday. The company has a market cap of $623.98 billion, a price-to-earnings ratio of 33.86, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The stock’s 50-day moving average is $341.89 and its 200-day moving average is $319.63.

Visa (NYSE:V) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share 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%. Equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.70%. Visa’s dividend payout ratio (DPR) is presently 23.79%.

Insider Buying and Selling at Visa

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 36,566 shares in the company, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at $194,931. This represents a 94.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 143,205 shares of company stock worth $48,842,490 in the last ninety days. 0.13% of the stock is owned by insiders.

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.