Ellevest Inc. Sells 1,047 Shares of Visa Inc. (NYSE:V)

Ellevest Inc. trimmed its position in Visa Inc. (NYSE:V) by 13.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,508 shares of the credit-card processor’s stock after selling 1,047 shares during the period. Ellevest Inc.’s holdings in Visa were worth $2,057,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Decker Retirement Planning Inc. bought a new position in Visa during the 4th quarter worth $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Visa in the fourth quarter valued at about $27,000. POM Investment Strategies LLC raised its position in shares of Visa by 48.5% during 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 during the last quarter. Compass Planning Associates Inc acquired a new position in shares of Visa in the fourth quarter worth approximately $32,000. Finally, FPC Investment Advisory Inc. boosted its holdings in Visa by 377.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after acquiring an additional 83 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on V. William Blair restated an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Wells Fargo & Company increased their price target on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods reissued a “hold” 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. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $362.38.

Visa Price Performance

V opened at $351.91 on Friday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $653.77 billion, a price-to-earnings ratio of 35.48, a P/E/G ratio of 2.33 and a beta of 0.96. The firm’s fifty day moving average price is $336.96 and its two-hundred day moving average price is $326.25.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.51 earnings per share. As a group, analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’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 owns 537 shares of the company’s stock, valued at $194,931. This represents a 94.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. This trade represents a 17.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,135 shares of company stock worth $36,289,074. 0.13% of the stock is 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.