Brown Shipley& Co Ltd decreased its position in shares of Visa Inc. (NYSE:V - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,742 shares of the credit-card processor's stock after selling 1,639 shares during the quarter. Visa accounts for 5.8% of Brown Shipley& Co Ltd's portfolio, making the stock its 4th largest position. Brown Shipley& Co Ltd's holdings in Visa were worth $11,612,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Regent Peak Wealth Advisors LLC raised its position in shares of Visa by 2.5% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 4,927 shares of the credit-card processor's stock valued at $1,557,000 after buying an additional 121 shares during the last quarter. Capital & Planning LLC boosted its stake in shares of Visa by 21.2% during the fourth quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor's stock valued at $300,000 after purchasing an additional 166 shares during the period. Diversify Wealth Management LLC boosted its stake in shares of Visa by 45.5% during the fourth quarter. Diversify Wealth Management LLC now owns 21,449 shares of the credit-card processor's stock valued at $6,600,000 after purchasing an additional 6,704 shares during the period. Seilern Investment Management Ltd purchased a new stake in shares of Visa during the fourth quarter valued at $12,610,000. Finally, Mechanics Bank Trust Department boosted its stake in shares of Visa by 3.1% during the fourth quarter. Mechanics Bank Trust Department now owns 33,859 shares of the credit-card processor's stock valued at $10,701,000 after purchasing an additional 1,013 shares during the period. 82.15% of the stock is owned by institutional investors.
Visa Stock Performance
Shares of NYSE:V traded down $3.93 during trading on Friday, hitting $354.04. 5,345,160 shares of the stock were exchanged, compared to its average volume of 7,026,462. 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 $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. The company's fifty day simple moving average is $341.47 and its 200-day simple moving average is $331.92. 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 (NYSE:V - Get Free Report) last announced its quarterly 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 business had revenue of $9.59 billion for 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%. Visa's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.51 EPS. Sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa's payout ratio is currently 23.72%.
Insider Transactions at Visa
In related news, insider Paul D. Fabara sold 14,813 shares of Visa stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the completion of the sale, the insider now directly owns 26,413 shares of the company's stock, valued at $9,377,671.52. The trade was a 35.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total value of $3,020,792.80. Following the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $188,186.28. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,948 shares of company stock worth $41,548,282 over the last 90 days. 0.13% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. BMO Capital Markets boosted their target price on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. UBS Group cut their price objective on shares of Visa from $400.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. William Blair reiterated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Evercore ISI assumed coverage on Visa in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price objective on the stock. Finally, Macquarie lowered their price objective on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $362.38.
Read Our Latest Stock Report on V
Visa Profile
(
Free Report)
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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