Visa Inc. (NYSE:V) Shares Sold by Investment Management Corp of Ontario

Investment Management Corp of Ontario trimmed its holdings in Visa Inc. (NYSE:V - Free Report) by 15.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,201 shares of the credit-card processor's stock after selling 20,096 shares during the period. Visa accounts for approximately 1.2% of Investment Management Corp of Ontario's holdings, making the stock its 14th largest position. Investment Management Corp of Ontario's holdings in Visa were worth $35,144,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of V. Decker Retirement Planning Inc. acquired a new position in shares of Visa in the 4th quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa during the fourth quarter worth approximately $27,000. POM Investment Strategies LLC grew its stake in shares of Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock valued at $31,000 after acquiring an additional 32 shares in the last quarter. Compass Planning Associates Inc acquired a new stake in Visa during the fourth quarter worth approximately $32,000. Finally, FPC Investment Advisory Inc. increased its position in shares of 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 purchasing an additional 83 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

V has been the topic of a number of research reports. William Blair reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Barclays increased their price target on Visa from $361.00 to $396.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Piper Sandler boosted their target price on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Seaport Res Ptn raised shares of Visa from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 14th. Finally, StockNews.com raised shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $362.38.

Visa Trading Up 0.4%

NYSE V traded up $1.41 during trading hours on Tuesday, reaching $356.67. The company had a trading volume of 895,772 shares, compared to its average volume of 7,147,798. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54. The stock has a market capitalization of $662.61 billion, a P/E ratio of 35.95, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. The stock has a 50-day moving average of $337.05 and a 200 day moving average of $327.84. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V - Get Free Report) last announced its earnings results 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 return on equity of 54.79% and a net margin of 54.27%. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the previous year, the company earned $2.51 earnings per share. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. As a group, research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. Visa's dividend payout ratio (DPR) is presently 23.72%.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 14,813 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the transaction, the insider now directly owns 26,413 shares of the company's stock, valued at $9,377,671.52. This represents a 35.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel now directly owns 11,925 shares of the company's stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,948 shares of company stock worth $41,548,282 over the last three months. Company insiders own 0.13% of the company's stock.

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.