IVC Wealth Advisors LLC Cuts Stake in Visa Inc. (NYSE:V)

IVC Wealth Advisors LLC cut its holdings in shares of Visa Inc. (NYSE:V) by 4.4% during the 4th quarter, HoldingsChannel reports. The fund owned 5,340 shares of the credit-card processor’s stock after selling 248 shares during the quarter. Visa makes up 0.9% of IVC Wealth Advisors LLC’s investment portfolio, making the stock its 20th biggest position. IVC Wealth Advisors LLC’s holdings in Visa were worth $1,688,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Capital Planning Advisors LLC grew its holdings in shares of Visa by 3.6% during the 4th quarter. Capital Planning Advisors LLC now owns 30,748 shares of the credit-card processor’s stock valued at $9,717,000 after purchasing an additional 1,071 shares during the last quarter. Endeavor Private Wealth Inc. purchased a new stake in Visa during the fourth quarter valued at about $272,000. MinichMacGregor Wealth Management LLC grew its stake in shares of Visa by 32.7% during the fourth quarter. MinichMacGregor Wealth Management LLC now owns 1,513 shares of the credit-card processor’s stock valued at $478,000 after buying an additional 373 shares during the last quarter. D.B. Root & Company LLC increased its holdings in shares of Visa by 8.2% in the fourth quarter. D.B. Root & Company LLC now owns 2,982 shares of the credit-card processor’s stock worth $942,000 after buying an additional 226 shares during the period. Finally, True North Advisors LLC lifted its stake in shares of Visa by 261.3% in the 4th quarter. True North Advisors LLC now owns 17,576 shares of the credit-card processor’s stock valued at $5,555,000 after acquiring an additional 12,712 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Up 0.6 %

NYSE:V opened at $330.20 on Friday. The firm has a market capitalization of $615.11 billion, a P/E ratio of 33.94, a PEG ratio of 2.17 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa Inc. has a one year low of $252.70 and a one year high of $331.09. The company’s 50-day simple moving average is $314.95 and its 200 day simple moving average is $290.42.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the previous year, the firm posted $2.33 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, analysts forecast that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.71%. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on V. Piper Sandler lifted their price target on Visa from $322.00 to $368.00 and gave the stock an “overweight” rating in a research note on Friday. Bank of America lifted their target price on shares of Visa from $314.00 to $331.00 and gave the stock a “neutral” rating in a research note on Wednesday. Susquehanna increased their price target on shares of Visa from $339.00 to $375.00 and gave the company a “positive” rating in a research report on Wednesday, December 11th. Robert W. Baird raised their price target on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price objective on shares of Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $334.58.

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.