Visa Inc. (NYSE:V) Stake Reduced by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC trimmed its position in Visa Inc. (NYSE:V) by 1.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 402,813 shares of the credit-card processor’s stock after selling 5,921 shares during the quarter. Visa makes up 1.8% of Douglas Lane & Associates LLC’s portfolio, making the stock its 9th biggest position. Douglas Lane & Associates LLC’s holdings in Visa were worth $127,305,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in V. Peterson Financial Group Inc. purchased a new position in shares of Visa in the 3rd quarter valued at $26,000. Modus Advisors LLC bought a new stake in Visa during the fourth quarter valued at about $32,000. Reston Wealth Management LLC purchased a new position in Visa in the third quarter valued at about $31,000. West Financial Advisors LLC boosted its holdings in shares of Visa by 101.4% in the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock valued at $40,000 after buying an additional 73 shares in the last quarter. Finally, Fairway Wealth LLC purchased a new position in shares of Visa in the 2nd quarter worth approximately $39,000. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on V. Piper Sandler increased their target price on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods raised their price objective on Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Royal Bank of Canada upped their target price on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. TD Cowen upped their price objective on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Bank of America lifted their target price on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Four analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $329.70.

Visa Stock Up 0.5 %

Shares of V traded up $1.55 during midday trading on Wednesday, hitting $313.22. The company had a trading volume of 2,691,117 shares, compared to its average volume of 4,745,194. The company’s 50-day simple moving average is $310.90 and its 200-day simple moving average is $286.27. The firm has a market capitalization of $583.49 billion, a P/E ratio of 32.19, a P/E/G ratio of 2.11 and a beta of 0.96. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $321.61. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.33 earnings per share. As a group, sell-side analysts expect that Visa Inc. will post 11.23 EPS for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.75%. Visa’s payout ratio is presently 24.25%.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’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. 0.13% of the stock is currently owned by corporate 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.