Intech Investment Management LLC Sells 11,094 Shares of Visa Inc. (NYSE:V)

Intech Investment Management LLC reduced its position in shares of Visa Inc. (NYSE:V - Free Report) by 15.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,008 shares of the credit-card processor's stock after selling 11,094 shares during the quarter. Intech Investment Management LLC's holdings in Visa were worth $15,623,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. WealthPlan Investment Management LLC grew its stake in shares of Visa by 222.1% in the third quarter. WealthPlan Investment Management LLC now owns 11,165 shares of the credit-card processor's stock valued at $2,568,000 after acquiring an additional 7,699 shares in the last quarter. Winthrop Advisory Group LLC grew its stake in shares of Visa by 1.2% in the third quarter. Winthrop Advisory Group LLC now owns 6,564 shares of the credit-card processor's stock valued at $1,510,000 after acquiring an additional 79 shares in the last quarter. Strategic Wealth Investment Group LLC grew its stake in shares of Visa by 13.4% in the third quarter. Strategic Wealth Investment Group LLC now owns 38,956 shares of the credit-card processor's stock valued at $8,960,000 after acquiring an additional 4,595 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Visa in the third quarter valued at about $6,180,000. Finally, Pinnacle Financial Partners Inc grew its stake in shares of Visa by 1.0% in the third quarter. Pinnacle Financial Partners Inc now owns 423,363 shares of the credit-card processor's stock valued at $97,378,000 after acquiring an additional 4,233 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares of the company's stock, valued at approximately $4,959,322.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Paul D. Fabara sold 25,293 shares of the company's stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares of the company's stock, valued at approximately $4,959,322.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $150,833.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,402 shares of company stock worth $9,559,382. 0.19% of the stock is owned by company insiders.

Visa Stock Up 0.1 %

NYSE V traded up $0.26 during mid-day trading on Friday, hitting $274.49. The company's stock had a trading volume of 4,339,967 shares, compared to its average volume of 7,948,953. The company's 50 day simple moving average is $276.70 and its 200 day simple moving average is $269.88. Visa Inc. has a twelve month low of $216.14 and a twelve month high of $290.96. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $502.03 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 1.88 and a beta of 0.95.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business had revenue of $8.78 billion for the quarter, compared to analysts' expectations of $8.62 billion. During the same period last year, the business earned $2.09 EPS. The business's revenue was up 9.9% on a year-over-year basis. Analysts anticipate that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, May 16th. Visa's dividend payout ratio (DPR) is currently 23.24%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on V. Oppenheimer upped their price objective on shares of Visa from $297.00 to $299.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods upped their price objective on shares of Visa from $305.00 to $315.00 and gave the stock an "outperform" rating in a research report on Friday, January 26th. Piper Sandler began coverage on shares of Visa in a research report on Monday, May 13th. They set an "overweight" rating and a $322.00 price objective for the company. Robert W. Baird upped their price objective on shares of Visa from $314.00 to $320.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 17th. Finally, Raymond James upped their price objective on shares of Visa from $287.00 to $311.00 and gave the stock an "outperform" rating in a research report on Friday, January 26th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $303.76.

Visa Company 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.

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