Visa Inc. (NYSE:V) Shares Sold by Formidable Asset Management LLC

Formidable Asset Management LLC lessened its holdings in shares of Visa Inc. (NYSE:V) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,576 shares of the credit-card processor’s stock after selling 58 shares during the quarter. Visa makes up about 0.7% of Formidable Asset Management LLC’s portfolio, making the stock its 27th biggest holding. Formidable Asset Management LLC’s holdings in Visa were worth $3,975,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hirtle Callaghan & Co LLC increased its stake in shares of Visa by 1.3% during the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock valued at $724,000 after acquiring an additional 29 shares during the last quarter. FWL Investment Management LLC increased its stake in shares of Visa by 0.5% during the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock valued at $2,005,000 after acquiring an additional 29 shares during the last quarter. Elevation Wealth Partners LLC increased its stake in shares of Visa by 3.3% during the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock valued at $297,000 after acquiring an additional 30 shares during the last quarter. Warther Private Wealth LLC increased its stake in shares of Visa by 1.0% during the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after acquiring an additional 30 shares during the last quarter. Finally, Valmark Advisers Inc. increased its stake in shares of Visa by 0.4% during the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In related 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 in the company, valued at $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 SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the transaction, the insider now owns 26,413 shares in the company, valued at $8,642,333.60. This trade represents a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,948 shares of company stock worth $41,548,282 over the last ninety days. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

V has been the subject of a number of research analyst reports. Susquehanna reaffirmed a “positive” rating on shares of Visa in a research note on Friday, March 21st. BMO Capital Markets increased their target price on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Evercore ISI began coverage on shares of Visa in a research report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 target price for the company. Oppenheimer reissued an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Finally, Macquarie dropped their target price on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Six analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $362.38.

Visa Stock Down 1.1%

Shares of NYSE:V opened at $354.04 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $369.15. The company has a 50 day moving average of $341.47 and a two-hundred day moving average of $331.75. The company has a market capitalization of $653.27 billion, a price-to-earnings ratio of 35.69, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96.

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

Visa Announces Dividend

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

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.