Visa Inc. (NYSE:V) Shares Sold by Pitcairn Co.

Pitcairn Co. lessened its holdings in Visa Inc. (NYSE:V) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,237 shares of the credit-card processor’s stock after selling 981 shares during the quarter. Visa accounts for about 0.6% of Pitcairn Co.’s holdings, making the stock its 23rd biggest position. Pitcairn Co.’s holdings in Visa were worth $9,872,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in V. Riverstone Advisors LLC acquired a new stake in shares of Visa in the fourth quarter valued at about $217,000. Journey Strategic Wealth LLC increased its holdings in 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 buying an additional 1,361 shares in the last quarter. King Wealth Management Group lifted its position in shares of Visa by 9.0% during the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after acquiring an additional 6,172 shares during the period. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Visa in the 4th quarter worth approximately $10,163,000. Finally, Copley Financial Group Inc. purchased a new position in Visa in the 3rd quarter valued at approximately $616,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,572 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $874,480.00. Following the transaction, the general counsel now directly owns 11,925 shares of the company’s stock, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $2,930,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,585 shares of company stock valued at $45,821,697. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

V has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Susquehanna reiterated a “positive” rating on shares of Visa in a research report on Friday, March 21st. Raymond James reissued an “outperform” rating and issued a $393.00 price objective (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, Bank of America increased their price target on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $355.84.

Visa Trading Up 0.0 %

NYSE V opened at $346.49 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 one year low of $252.70 and a one year high of $366.54. The company has a 50-day simple moving average of $345.14 and a 200-day simple moving average of $316.58. The firm has a market capitalization of $643.70 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last issued its 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%. On average, equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current 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 given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio is presently 23.79%.

About Visa

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.