Nicholas Hoffman & Company LLC. Cuts Position in Visa Inc. (NYSE:V)

Nicholas Hoffman & Company LLC. cut its holdings in Visa Inc. (NYSE:V) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,464 shares of the credit-card processor’s stock after selling 186 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Visa were worth $3,307,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Riverstone Advisors LLC bought a new position in Visa during the fourth quarter valued at $217,000. Custom Index Systems LLC purchased a new position in shares of Visa during the 3rd quarter valued at $731,000. Journey Strategic Wealth LLC grew its stake in shares of Visa by 16.4% during the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after acquiring an additional 1,361 shares during the period. Copley Financial Group Inc. bought a new stake in Visa in the 3rd quarter valued at about $616,000. Finally, Calamos Wealth Management LLC lifted its holdings in Visa by 0.6% during the fourth quarter. Calamos Wealth Management LLC now owns 77,443 shares of the credit-card processor’s stock valued at $24,475,000 after purchasing an additional 435 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of the firm’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 approximately $12,789,689.82. The trade was a 47.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,056 shares of company stock worth $19,830,050. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on V. Jefferies Financial Group raised their price objective on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group raised their price target on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and set a $383.00 price objective (up from $368.00) on shares of Visa in a research note on Friday, January 31st. TD Cowen raised their target price on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer upped their price target on Visa from $375.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $354.73.

Visa Stock Performance

NYSE:V opened at $354.95 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $357.15. The firm has a market cap of $659.42 billion, a PE ratio of 35.78, a price-to-earnings-growth ratio of 2.35 and a beta of 0.97. The business has a 50 day moving average price of $327.75 and a 200-day moving average price of $301.05.

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%. Equities research 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 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 0.66%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is currently 23.79%.

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.