Bank of America Corp DE Sells 1,032,698 Shares of Visa Inc. (NYSE:V)

Bank of America Corp DE lessened its position in shares of Visa Inc. (NYSE:V - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,135,906 shares of the credit-card processor's stock after selling 1,032,698 shares during the period. Visa makes up 0.6% of Bank of America Corp DE's portfolio, making the stock its 22nd biggest position. Bank of America Corp DE owned about 1.25% of Visa worth $7,311,872,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. acquired a new stake in Visa in the 4th quarter valued at $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 holdings in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock valued at $31,000 after buying an additional 32 shares during the period. Modus Advisors LLC acquired a new position in Visa during the 4th quarter worth approximately $32,000. Finally, Compass Planning Associates Inc purchased a new position in Visa in the 4th quarter worth approximately $32,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Up 0.3 %

NYSE:V traded up $1.07 during mid-day trading on Monday, hitting $348.67. The company had a trading volume of 3,864,472 shares, compared to its average volume of 7,225,086. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $366.54. The firm has a market cap of $647.75 billion, a P/E ratio of 35.15, a P/E/G ratio of 2.33 and a beta of 0.96. The business's fifty day moving average is $337.57 and its two-hundred day moving average is $325.48.

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

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders 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 yield of 0.68%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa's dividend payout ratio (DPR) is currently 23.72%.

Analyst Upgrades and Downgrades

V has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reissued a "hold" rating on shares of Visa in a research report on Thursday, February 13th. BMO Capital Markets upped their price objective on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. StockNews.com lowered Visa from a "buy" rating to a "hold" rating in a research report on Wednesday, April 16th. William Blair reissued an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group raised their price objective on Visa from $346.00 to $384.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Seven 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's stock. According to MarketBeat, Visa has an average rating of "Moderate Buy" and an average price target of $362.38.

Insider Transactions at Visa

In other Visa news, CAO Peter M. Andreski sold 2,332 shares of the company's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.62, for a total value of $815,313.84. Following the transaction, the chief accounting officer now directly owns 4,488 shares in the company, valued at $1,569,094.56. The trade was a 34.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the sale, the insider now owns 36,566 shares of the company's stock, valued at $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,208 shares of company stock valued at $48,905,978 in the last ninety days. 0.13% of the stock is currently owned by corporate 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.