Kayne Anderson Rudnick Investment Management LLC Cuts Stock Position in Visa Inc. (NYSE:V)

Kayne Anderson Rudnick Investment Management LLC cut its stake in Visa Inc. (NYSE:V - Free Report) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 371,216 shares of the credit-card processor's stock after selling 10,025 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in Visa were worth $117,319,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Bradley & Co. Private Wealth Management LLC purchased a new stake in Visa in the fourth quarter valued at $27,000. POM Investment Strategies LLC lifted its holdings in shares of Visa by 48.5% in 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. Compass Planning Associates Inc acquired a new position in shares of Visa in the 4th quarter valued at about $32,000. NewSquare Capital LLC acquired a new stake in Visa during the fourth quarter worth about $35,000. Finally, FPC Investment Advisory Inc. raised its position in Visa by 377.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock valued at $36,000 after acquiring an additional 83 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on V shares. Evercore ISI assumed coverage on shares of Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price for the company. Wells Fargo & Company raised their price target on shares of Visa from $360.00 to $395.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. BMO Capital Markets raised their price target 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. Oppenheimer restated an "outperform" rating on shares of Visa in a research report on Thursday, February 13th. Finally, Susquehanna restated a "positive" rating on shares of Visa in a research report on Friday, March 21st. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $366.13.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the sale, the chief executive officer now directly owns 537 shares in the company, valued at approximately $194,931. The trade was a 94.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were 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 owns 11,925 shares in the company, valued at approximately $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. Insiders sold a total of 121,948 shares of company stock valued at $41,548,282 in the last 90 days. Company insiders own 0.13% of the company's stock.

Visa Trading Up 0.2%

NYSE:V traded up $0.63 during trading hours on Wednesday, hitting $359.93. The company had a trading volume of 3,293,103 shares, compared to its average volume of 7,011,967. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $369.15. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average of $342.15 and a 200 day moving average of $332.61. The company has a market cap of $664.13 billion, a P/E ratio of 36.28, a P/E/G ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (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 firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the firm posted $2.51 earnings per share. Visa's quarterly revenue was up 9.3% on a year-over-year basis. Sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. Visa's dividend payout ratio (DPR) is 23.72%.

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.