Visa Inc. (NYSE:V) Shares Sold by Skylands Capital LLC

Skylands Capital LLC trimmed its holdings in Visa Inc. (NYSE:V) by 11.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 41,065 shares of the credit-card processor’s stock after selling 5,550 shares during the quarter. Visa makes up 1.8% of Skylands Capital LLC’s holdings, making the stock its 14th biggest holding. Skylands Capital LLC’s holdings in Visa were worth $12,978,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Riverstone Advisors LLC acquired a new stake in shares of Visa in the fourth quarter valued at about $217,000. Journey Strategic Wealth LLC raised its position in shares of Visa by 16.4% in the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock valued at $3,058,000 after buying an additional 1,361 shares during the last quarter. Copley Financial Group Inc. acquired a new stake in shares of Visa in the third quarter valued at about $616,000. Calamos Wealth Management LLC raised its position in shares of Visa by 0.6% in the fourth quarter. Calamos Wealth Management LLC now owns 77,443 shares of the credit-card processor’s stock valued at $24,475,000 after buying an additional 435 shares during the last quarter. Finally, Oak Ridge Investments LLC raised its position in shares of Visa by 5.9% in the fourth quarter. Oak Ridge Investments LLC now owns 75,456 shares of the credit-card processor’s stock valued at $23,847,000 after buying an additional 4,198 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Down 0.4 %

NYSE V opened at $350.61 on Thursday. The firm has a 50 day simple moving average of $331.31 and a 200-day simple moving average of $304.27. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a one year low of $252.70 and a one year high of $357.15. The firm has a market cap of $651.36 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 2.33 and a beta of 0.97.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. Visa’s dividend payout ratio is currently 23.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on V shares. Citigroup reiterated a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. The Goldman Sachs Group raised their price objective on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Bank of America raised their price objective on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Piper Sandler restated an “overweight” rating and set a $383.00 price objective (up from $368.00) on shares of Visa in a research report on Friday, January 31st. Finally, Susquehanna raised their price objective on shares of Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $353.96.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the sale, the chief accounting officer now directly owns 4,488 shares in the company, valued at approximately $1,569,094.56. The trade was a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,885 shares of company stock worth $19,161,447 over the last 90 days. 0.13% of the stock is owned by insiders.

About Visa

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.