RedJay Asset Management Inc. Reduces Stock Holdings in Visa Inc. (NYSE:V)

RedJay Asset Management Inc. trimmed its position in Visa Inc. (NYSE:V - Free Report) by 33.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,000 shares of the credit-card processor's stock after selling 15,000 shares during the period. Visa accounts for 5.8% of RedJay Asset Management Inc.'s portfolio, making the stock its 11th biggest position. RedJay Asset Management Inc.'s holdings in Visa were worth $9,481,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bradley & Co. Private Wealth Management LLC bought a new stake in Visa in the fourth quarter worth $27,000. POM Investment Strategies LLC boosted its holdings in Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock worth $31,000 after acquiring an additional 32 shares in the last quarter. Compass Planning Associates Inc bought a new stake in Visa in the fourth quarter worth $32,000. FPC Investment Advisory Inc. boosted its holdings in Visa by 377.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock worth $36,000 after acquiring an additional 83 shares in the last quarter. Finally, NewSquare Capital LLC bought a new stake in Visa in the fourth quarter worth $35,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 14,813 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $355.04, for a total value of $5,259,207.52. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company's stock, valued at approximately $9,377,671.52. The trade was a 35.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total value of $3,129,060.00. Following the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $194,931. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 121,948 shares of company stock valued at $41,548,282. Corporate insiders own 0.13% of the company's stock.

Visa Stock Up 0.2%

NYSE V traded up $0.63 on Wednesday, reaching $359.93. 3,293,103 shares of the stock traded hands, compared to its average volume of 7,011,967. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The company has a fifty day moving average price of $342.15 and a 200-day moving average price of $332.61. The company has a market cap of $664.13 billion, a price-to-earnings ratio of 36.28, a PEG ratio of 2.33 and a beta of 0.96. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $369.15.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion during 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 revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.51 EPS. As a group, research analysts forecast 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. 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 0.66%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa's dividend payout ratio (DPR) is presently 23.72%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Bank of America upped their price target on Visa from $331.00 to $363.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Jefferies Financial Group upped their price target on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday. Susquehanna restated a "positive" rating on shares of Visa in a research report on Friday, March 21st. Evercore ISI initiated coverage on Visa in a research report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price for the company. Finally, Oppenheimer restated an "outperform" rating on shares of Visa in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Visa has a consensus rating of "Moderate Buy" and an average target price of $366.13.

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.