Halbert Hargrove Global Advisors LLC cut its holdings in Visa Inc. (NYSE:V – Free Report) by 51.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 795 shares of the credit-card processor’s stock after selling 830 shares during the period. Halbert Hargrove Global Advisors LLC’s holdings in Visa were worth $207,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of V. Investment Advisory Services Inc. TX ADV boosted its holdings in shares of Visa by 2.0% during the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 3,930 shares of the credit-card processor’s stock worth $904,000 after buying an additional 78 shares during the period. Camarda Financial Advisors LLC boosted its holdings in Visa by 3.0% during the second quarter. Camarda Financial Advisors LLC now owns 6,249 shares of the credit-card processor’s stock valued at $1,484,000 after acquiring an additional 182 shares during the period. Towerpoint Wealth LLC acquired a new stake in shares of Visa in the fourth quarter valued at about $216,000. Wayfinding Financial LLC increased its stake in shares of Visa by 10.1% in the third quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock worth $406,000 after purchasing an additional 161 shares during the period. Finally, Richelieu Gestion SA acquired a new position in shares of Visa during the 4th quarter worth about $307,000. 82.15% of the stock is owned by institutional investors and hedge funds.
Visa Trading Up 1.1 %
Shares of V stock opened at $277.14 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $508.97 billion, a P/E ratio of 31.89, a P/E/G ratio of 1.91 and a beta of 0.96. Visa Inc. has a 12-month low of $216.14 and a 12-month high of $290.96. The firm has a 50-day moving average price of $280.08 and a 200 day moving average price of $260.26.
Visa (NYSE:V – Get Free Report) last announced its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 EPS for the quarter, topping the consensus estimate of $2.34 by $0.07. Visa had a return on equity of 50.02% and a net margin of 53.92%. The business had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $8.55 billion. During the same period in the previous year, the business earned $2.18 EPS. Visa’s revenue was up 9.3% compared to the same quarter last year. Research analysts forecast that Visa Inc. will post 9.89 earnings per share for the current fiscal year.
Visa Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is presently 23.94%.
Analyst Upgrades and Downgrades
V has been the topic of a number of research analyst reports. Citigroup raised their target price on Visa from $296.00 to $306.00 and gave the company a “buy” rating in a report on Thursday, January 18th. William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Friday, January 26th. Monness Crespi & Hardt began coverage on shares of Visa in a research note on Wednesday, December 20th. They set a “neutral” rating for the company. Wells Fargo & Company raised their price target on shares of Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Visa from $305.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $295.82.
Check Out Our Latest Stock Report on Visa
Insider Activity at Visa
In other news, insider Rajat Taneja sold 36,546 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the sale, the insider now owns 232,112 shares of the company’s stock, valued at $62,716,662.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $150,833.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Rajat Taneja sold 36,546 shares of Visa stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $270.20, for a total value of $9,874,729.20. Following the completion of the sale, the insider now directly owns 232,112 shares in the company, valued at approximately $62,716,662.40. The disclosure for this sale can be found here. Insiders sold a total of 55,511 shares of company stock worth $15,131,081 in the last quarter. Corporate insiders own 0.19% of the company’s stock.
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.
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