Visa Inc. (NYSE:V) Shares Sold by Byrne Asset Management LLC

Byrne Asset Management LLC cut its holdings in Visa Inc. (NYSE:V) by 1.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,808 shares of the credit-card processor’s stock after selling 112 shares during the quarter. Visa accounts for 2.0% of Byrne Asset Management LLC’s investment portfolio, making the stock its 9th biggest holding. Byrne Asset Management LLC’s holdings in Visa were worth $2,784,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Apollon Financial LLC boosted its position in shares of Visa by 10.9% during the 4th quarter. Apollon Financial LLC now owns 1,192 shares of the credit-card processor’s stock worth $377,000 after purchasing an additional 117 shares in the last quarter. Unison Asset Management LLC raised its stake in Visa by 2.6% during the 4th quarter. Unison Asset Management LLC now owns 17,193 shares of the credit-card processor’s stock worth $5,434,000 after buying an additional 436 shares during the period. Mezzasalma Advisors LLC boosted its holdings in Visa by 2.8% in the fourth quarter. Mezzasalma Advisors LLC now owns 35,495 shares of the credit-card processor’s stock worth $11,218,000 after acquiring an additional 957 shares in the last quarter. TFG Advisers LLC grew its stake in Visa by 0.3% in the fourth quarter. TFG Advisers LLC now owns 12,858 shares of the credit-card processor’s stock valued at $4,064,000 after acquiring an additional 33 shares during the period. Finally, Vest Financial LLC increased its holdings in shares of Visa by 10.1% during the fourth quarter. Vest Financial LLC now owns 113,057 shares of the credit-card processor’s stock valued at $35,731,000 after acquiring an additional 10,387 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

V has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group boosted their target price on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Wells Fargo & Company raised their price target on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. William Blair reissued an “outperform” rating on shares of Visa in a report on Friday, January 31st. Finally, Barclays raised their target price on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $354.73.

Visa Stock Performance

NYSE:V opened at $351.26 on Tuesday. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $351.90. The business’s fifty day moving average is $321.08 and its 200 day moving average is $296.19. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.28 and a current ratio of 1.12. The firm has a market cap of $652.56 billion, a price-to-earnings ratio of 35.41, a PEG ratio of 2.32 and a beta of 0.97.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Research analysts predict that Visa Inc. will post 11.27 EPS for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Insider Activity

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares of the company’s stock, valued at $12,789,689.82. The trade was a 47.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the sale, the chief accounting officer now owns 4,488 shares in the company, valued at approximately $1,569,094.56. This trade represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,056 shares of company stock worth $19,830,050 in the last three months. Corporate 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.