Pinebridge Investments L.P. Sells 189,653 Shares of Visa Inc. (NYSE:V)

Pinebridge Investments L.P. decreased its position in Visa Inc. (NYSE:V) by 44.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 237,493 shares of the credit-card processor’s stock after selling 189,653 shares during the period. Visa makes up 0.6% of Pinebridge Investments L.P.’s holdings, making the stock its 28th biggest holding. Pinebridge Investments L.P.’s holdings in Visa were worth $75,057,000 at the end of the most recent quarter.

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

Visa Price Performance

Shares of NYSE V opened at $331.74 on Wednesday. The firm has a market cap of $616.30 billion, a price-to-earnings ratio of 33.44, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The stock has a fifty day simple moving average of $339.57 and a two-hundred day simple moving average of $321.41. 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 Inc. has a 1-year low of $252.70 and a 1-year high of $366.54.

Visa (NYSE:V) last announced its quarterly earnings data 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 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. Investors of record on Tuesday, February 11th were paid a $0.59 dividend. 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 0.71%. Visa’s dividend payout ratio is 23.79%.

Analyst Ratings Changes

Several analysts recently issued reports on V shares. JPMorgan Chase & Co. lifted their price target on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Wells Fargo & Company lifted their price objective on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. StockNews.com downgraded Visa from a “buy” rating to a “hold” rating in a research note on Wednesday, April 16th. Finally, Citigroup restated a “neutral” rating on shares of Visa in a report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average price target of $355.84.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on 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 directly owns 537 shares in the company, valued at $188,186.28. The trade was a 94.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the transaction, the general counsel now owns 11,925 shares of the company’s stock, valued at approximately $4,054,500. The trade was a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,205 shares of company stock valued at $48,842,490 in the last 90 days. 0.13% of the stock is currently owned by company insiders.

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.