Visa Inc. (NYSE:V) Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC reduced its holdings in Visa Inc. (NYSE:VFree Report) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,006 shares of the credit-card processor’s stock after selling 251 shares during the quarter. Drive Wealth Management LLC’s holdings in Visa were worth $1,303,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Hibernia Wealth Partners LLC acquired a new stake in shares of Visa in the 3rd quarter valued at approximately $25,000. Altshuler Shaham Ltd acquired a new stake in shares of Visa in the 3rd quarter valued at approximately $25,000. West Tower Group LLC purchased a new position in Visa in the 2nd quarter valued at approximately $30,000. Nalls Sherbakoff Group LLC increased its stake in Visa by 545.5% in the 3rd quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock valued at $33,000 after purchasing an additional 120 shares in the last quarter. Finally, Valued Wealth Advisors LLC purchased a new position in Visa in the 4th quarter valued at approximately $37,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,511 shares of company stock valued at $15,131,081. Company insiders own 0.19% of the company’s stock.

Visa Stock Performance

Visa stock opened at $276.96 on Thursday. The stock has a fifty day moving average price of $279.87 and a 200 day moving average price of $259.82. Visa Inc. has a 52 week low of $216.14 and a 52 week high of $290.96. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $508.64 billion, a P/E ratio of 31.87, a PEG ratio of 1.92 and a beta of 0.96.

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

Visa Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Jefferies Financial Group raised their price objective on Visa from $280.00 to $295.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Evercore ISI raised their price objective on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. KeyCorp raised their price objective on Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, January 8th. Barclays raised their price objective on Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Finally, UBS Group raised their price target on Visa from $305.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $295.82.

Check Out Our Latest Stock Report on Visa

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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