DAVENPORT & Co LLC Lowers Position in Visa Inc. (NYSE:V)

DAVENPORT & Co LLC decreased its position in Visa Inc. (NYSE:VFree Report) by 0.3% during the 4th quarter, Holdings Channel reports. The fund owned 497,283 shares of the credit-card processor’s stock after selling 1,261 shares during the quarter. Visa comprises about 0.9% of DAVENPORT & Co LLC’s holdings, making the stock its 25th biggest position. DAVENPORT & Co LLC’s holdings in Visa were worth $129,415,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Colonial River Wealth Management LLC raised its position in Visa by 300.6% during the fourth quarter. Colonial River Wealth Management LLC now owns 3,613 shares of the credit-card processor’s stock worth $941,000 after acquiring an additional 2,711 shares during the last quarter. TTP Investments Inc. acquired a new position in shares of Visa in the fourth quarter valued at approximately $216,000. Physician Wealth Advisors Inc. raised its position in shares of Visa by 2.2% in the fourth quarter. Physician Wealth Advisors Inc. now owns 2,157 shares of the credit-card processor’s stock valued at $585,000 after buying an additional 46 shares during the last quarter. Buck Wealth Strategies LLC raised its stake in Visa by 18.1% during the fourth quarter. Buck Wealth Strategies LLC now owns 27,755 shares of the credit-card processor’s stock worth $7,226,000 after purchasing an additional 4,247 shares during the period. Finally, Unionview LLC raised its stake in Visa by 4.0% during the fourth quarter. Unionview LLC now owns 2,383 shares of the credit-card processor’s stock worth $620,000 after purchasing an additional 92 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.5 %

NYSE:V opened at $276.96 on Thursday. Visa Inc. has a twelve month low of $216.14 and a twelve month high of $290.96. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average price of $279.87 and a two-hundred day moving average price of $259.82. The company has a market cap of $508.64 billion, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96.

Visa (NYSE:VGet Free Report) last released its quarterly earnings data on Thursday, January 25th. The credit-card processor reported $2.41 EPS for the quarter, beating the consensus estimate of $2.34 by $0.07. The company had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.55 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.18 EPS. As a group, analysts expect that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, February 8th. Visa’s dividend payout ratio is 23.94%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. UBS Group raised their price target on shares of Visa from $305.00 to $315.00 and gave the company a “buy” rating in a report on Friday, January 26th. Barclays raised their price target on shares of Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Raymond James raised their price target on shares of Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Redburn Atlantic reiterated a “neutral” rating and issued a $307.00 price objective on shares of Visa in a research report on Wednesday, March 27th. Finally, KeyCorp lifted their price objective on shares of Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, January 8th. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $295.82.

Check Out Our Latest Analysis on Visa

Insider Buying and Selling at Visa

In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the transaction, the chief accounting officer now owns 4,898 shares in the company, valued at approximately $1,365,954.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Peter M. Andreski sold 2,615 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the transaction, the chief accounting officer now owns 4,898 shares in the company, valued at $1,365,954.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rajat Taneja sold 36,546 shares of Visa stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $270.20, for a total value of $9,874,729.20. Following the completion of the transaction, the insider now owns 232,112 shares in the company, valued at approximately $62,716,662.40. The disclosure for this sale can be found here. Insiders sold 55,511 shares of company stock valued at $15,131,081 in the last quarter. 0.19% of the stock is currently owned by insiders.

Visa Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:VFree Report).

Institutional Ownership by Quarter for Visa (NYSE:V)

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