Connors Investor Services Inc. Sells 5,245 Shares of Visa Inc. (NYSE:V)

Connors Investor Services Inc. cut its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,353 shares of the credit-card processor's stock after selling 5,245 shares during the period. Visa makes up 1.4% of Connors Investor Services Inc.'s portfolio, making the stock its 27th biggest position. Connors Investor Services Inc.'s holdings in Visa were worth $15,282,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Visa in the fourth quarter worth $5,171,271,000. Vanguard Group Inc. grew its stake in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after purchasing an additional 7,079,706 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Visa during the 4th quarter valued at about $1,955,403,000. Proficio Capital Partners LLC lifted its stake in shares of 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 period. Finally, Northern Trust Corp boosted its holdings in shares of Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after buying an additional 2,785,707 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 39,350 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $8,642,333.60. This represents a 59.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 154,400 shares of company stock worth $52,711,258. 0.13% of the stock is currently owned by company insiders.

Visa Price Performance

Shares of NYSE V traded up $5.21 during midday trading on Friday, reaching $347.66. 6,112,726 shares of the stock traded hands, compared to its average volume of 7,225,064. The company's 50 day moving average is $337.61 and its 200 day moving average is $324.57. Visa Inc. has a one year low of $252.70 and a one 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 stock has a market capitalization of $645.87 billion, a PE ratio of 35.05, a P/E/G ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping 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 firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the previous year, the firm posted $2.51 EPS. The business's quarterly revenue was up 9.3% on a year-over-year basis. On average, equities research analysts anticipate 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 paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa's payout ratio is 23.79%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Susquehanna reaffirmed a "positive" rating on shares of Visa in a report on Friday, March 21st. Raymond James restated an "outperform" rating and issued a $393.00 price objective (up from $374.00) on shares of Visa in a research note on Friday, January 31st. William Blair reiterated an "outperform" rating on shares of Visa in a research report on Wednesday. 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 research report on Friday, January 31st. Finally, BMO Capital Markets lifted their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Visa currently has an average rating of "Moderate Buy" and a consensus target price of $362.38.

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.