Evercore Wealth Management LLC Lowers Stock Position in Visa Inc. (NYSE:V)

Evercore Wealth Management LLC trimmed its position in shares of Visa Inc. (NYSE:V) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,699 shares of the credit-card processor’s stock after selling 609 shares during the period. Evercore Wealth Management LLC’s holdings in Visa were worth $11,914,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the transaction, the chief executive officer now directly owns 537 shares of the company’s stock, valued at approximately $194,931. This trade represents a 94.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at $8,642,333.60. The trade was a 59.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,205 shares of company stock worth $48,842,490. Insiders own 0.13% of the company’s stock.

Visa Stock Up 3.6 %

NYSE:V opened at $331.74 on Wednesday. The firm has a market capitalization of $616.30 billion, a PE ratio of 33.44, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. Visa Inc. has a 52 week low of $252.70 and a 52 week 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 stock has a 50 day moving average of $339.57 and a 200-day moving average of $321.41.

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%. Analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently announced 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. This represents a $2.36 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Wall Street Analysts Forecast Growth

V has been the subject of a number of research reports. Evercore ISI started coverage on shares of Visa in a research report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price target for the company. Raymond James reissued an “outperform” rating and set a $393.00 price target (up from $374.00) on shares of Visa in a research report on Friday, January 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $383.00 price objective (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. UBS Group raised their price target on shares of Visa from $350.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, William Blair restated an “outperform” rating on shares of Visa in a research note on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $355.84.

Visa 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.