Visa Inc. (NYSE:V) Stake Trimmed by Glen Eagle Advisors LLC

Glen Eagle Advisors LLC cut its holdings in shares of Visa Inc. (NYSE:V) by 2.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,415 shares of the credit-card processor’s stock after selling 851 shares during the quarter. Visa accounts for about 1.5% of Glen Eagle Advisors LLC’s investment portfolio, making the stock its 15th largest holding. Glen Eagle Advisors LLC’s holdings in Visa were worth $8,980,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of V. Norges Bank acquired a new stake in shares of Visa during the 4th quarter valued at about $5,171,271,000. Vanguard Group Inc. lifted its holdings in Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Visa in the 4th quarter worth approximately $1,955,403,000. Proficio Capital Partners LLC lifted its holdings in Visa by 17,018.7% in the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after purchasing an additional 3,926,049 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after purchasing an additional 2,785,707 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

NYSE:V opened at $366.96 on Wednesday. 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 business has a fifty day simple moving average of $340.06 and a two-hundred day simple moving average of $330.68. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $369.15. The company has a market capitalization of $677.10 billion, a P/E ratio of 36.99, a P/E/G ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the company earned $2.51 earnings per share. On average, analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. Visa’s dividend payout ratio is currently 23.72%.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction that occurred on 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 sale, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $8,642,333.60. The trade was a 59.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the sale, the chief executive officer now directly owns 537 shares in the company, valued at approximately $194,931. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,948 shares of company stock worth $41,548,282. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of several analyst reports. Macquarie reduced their target price on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Oppenheimer reiterated an “outperform” rating on shares of Visa in a report on Thursday, February 13th. The Goldman Sachs Group upped their price target on Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a report on Friday, January 31st. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Finally, Piper Sandler lifted their target price on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $362.38.

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.