Folger Nolan Fleming Douglas Capital Management Inc. Sells 3,323 Shares of Visa Inc. (NYSE:V)

Folger Nolan Fleming Douglas Capital Management Inc. cut its holdings in Visa Inc. (NYSE:V) by 5.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 56,923 shares of the credit-card processor’s stock after selling 3,323 shares during the period. Visa accounts for 1.9% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 12th largest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Visa were worth $17,990,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of V. International Assets Investment Management LLC boosted its position in shares of Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after acquiring an additional 9,736,958 shares during the period. SG Americas Securities LLC grew its position in shares of Visa by 4,412.3% during the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after purchasing an additional 4,166,905 shares in the last quarter. State Street Corp increased its holdings in shares of Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares during the period. FMR LLC raised its position in shares of Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after buying an additional 3,265,518 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Visa by 7.7% during the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after buying an additional 2,772,549 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

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 value of $2,739,263.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa Price Performance

V opened at $319.97 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a market cap of $596.06 billion, a price-to-earnings ratio of 32.88, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. The stock has a fifty day simple moving average of $313.41 and a two-hundred day simple moving average of $288.45. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $321.61.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the business earned $2.33 EPS. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. Research analysts predict that Visa Inc. will post 11.22 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a 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%.

Wall Street Analyst Weigh In

Several analysts have weighed in on V shares. Jefferies Financial Group raised their price target on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. TD Cowen lifted their target price on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price target on shares of Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Barclays lifted their price objective on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Oppenheimer raised their price target on Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $331.92.

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.