StrongBox Wealth LLC Reduces Position in Visa Inc. (NYSE:V)

StrongBox Wealth LLC reduced its position in shares of Visa Inc. (NYSE:VFree Report) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,641 shares of the credit-card processor’s stock after selling 909 shares during the period. Visa comprises approximately 2.8% of StrongBox Wealth LLC’s portfolio, making the stock its 13th largest position. StrongBox Wealth LLC’s holdings in Visa were worth $6,524,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Custom Index Systems LLC acquired a new stake in Visa during the 3rd quarter worth $731,000. Copley Financial Group Inc. purchased a new position in shares of Visa during the third quarter worth about $616,000. FORA Capital LLC acquired a new stake in shares of Visa during the third quarter worth about $7,987,000. Chicago Capital LLC lifted its holdings in shares of Visa by 5.2% in the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after purchasing an additional 20,023 shares during the last quarter. Finally, Nexus Investment Management ULC boosted its position in shares of Visa by 5,034.0% in the 3rd quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock valued at $15,499,000 after purchasing an additional 55,273 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 0.3 %

Shares of NYSE:V opened at $317.10 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average price is $312.94 and its 200 day moving average price is $287.85. The company has a market cap of $590.71 billion, a PE ratio of 32.59, a P/E/G ratio of 2.06 and a beta of 0.96. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $321.61.

Visa (NYSE:VGet Free Report) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period last year, the firm earned $2.33 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 11.22 earnings per share for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.74%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. Visa’s payout ratio is 24.25%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Oppenheimer upped their price target on shares of Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods raised their price objective on shares of Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Macquarie upped their target price on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird raised their price target on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $331.92.

Read Our Latest Stock Analysis on Visa

Visa Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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