Pinebridge Investments L.P. Has $75.06 Million Stock Holdings in Visa Inc. (NYSE:V)

Pinebridge Investments L.P. lessened its holdings in Visa Inc. (NYSE:V - Free Report) by 44.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 237,493 shares of the credit-card processor's stock after selling 189,653 shares during the period. Visa comprises approximately 0.6% of Pinebridge Investments L.P.'s holdings, making the stock its 28th biggest holding. Pinebridge Investments L.P.'s holdings in Visa were worth $75,057,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in V. Decker Retirement Planning Inc. purchased a new position in shares of Visa in the 4th quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Visa during the 4th quarter worth $27,000. POM Investment Strategies LLC increased its stake in Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock worth $31,000 after buying an additional 32 shares during the period. Modus Advisors LLC purchased a new stake in Visa during the 4th quarter worth $32,000. Finally, Compass Planning Associates Inc purchased a new stake in Visa during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on V shares. Seaport Res Ptn raised shares of Visa from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Evercore ISI started coverage on shares of Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target on the stock. Bank of America lifted their price target on shares of Visa from $331.00 to $363.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Oppenheimer reaffirmed an "outperform" rating on shares of Visa in a research note on Thursday, February 13th. Finally, Barclays raised their price objective on shares of Visa from $361.00 to $396.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Visa has an average rating of "Moderate Buy" and an average target price of $358.17.

Visa Stock Performance

Shares of V traded down $0.21 during trading hours on Friday, reaching $335.50. 4,451,694 shares of the company's stock traded hands, compared to its average volume of 7,211,210. The firm has a market capitalization of $623.28 billion, a price-to-earnings ratio of 33.82, a P/E/G ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The business's fifty day simple moving average is $338.42 and its two-hundred day simple moving average is $322.98.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating analysts' consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.70%. Visa's dividend payout ratio is currently 23.79%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at $188,186.28. This trade represents a 94.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 39,350 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total value of $13,395,133.50. Following the sale, the insider now directly owns 26,413 shares of the company's stock, valued at approximately $8,991,249.33. This represents a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,205 shares of company stock worth $48,842,490 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

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.