iA Global Asset Management Inc. Sells 36,590 Shares of Visa Inc. (NYSE:V)

iA Global Asset Management Inc. decreased its position in Visa Inc. (NYSE:V) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 489,479 shares of the credit-card processor’s stock after selling 36,590 shares during the quarter. Visa comprises approximately 2.7% of iA Global Asset Management Inc.’s investment portfolio, making the stock its 7th biggest position. iA Global Asset Management Inc.’s holdings in Visa were worth $154,695,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Riverstone Advisors LLC acquired a new position in shares of Visa in the fourth quarter valued at approximately $217,000. Journey Strategic Wealth LLC grew its position in shares of Visa by 16.4% in the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock valued at $3,058,000 after purchasing an additional 1,361 shares during the last quarter. King Wealth Management Group grew its position in shares of Visa by 9.0% in the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after purchasing an additional 6,172 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Visa during the fourth quarter worth approximately $10,163,000. Finally, Copley Financial Group Inc. acquired a new stake in Visa during the third quarter worth approximately $616,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on V. Oppenheimer reissued an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Susquehanna increased their price target on Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, Barclays increased their price target on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Trading Up 1.5 %

NYSE V opened at $339.92 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The company has a market cap of $631.50 billion, a price-to-earnings ratio of 34.27, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. The business’s fifty day moving average is $339.38 and its 200 day moving average is $312.21.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.69%. The ex-dividend date was Tuesday, February 11th. Visa’s payout ratio is presently 23.79%.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 39,350 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at $8,642,333.60. The trade was a 59.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,855 shares of company stock valued at $35,165,827. 0.13% of the stock is currently owned by company insiders.

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.