Addenda Capital Inc. Sells 310 Shares of Visa Inc. (NYSE:V)

Addenda Capital Inc. decreased its position in shares of Visa Inc. (NYSE:V) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 79,730 shares of the credit-card processor’s stock after selling 310 shares during the quarter. Visa comprises approximately 1.1% of Addenda Capital Inc.’s investment portfolio, making the stock its 24th largest position. Addenda Capital Inc.’s holdings in Visa were worth $25,198,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of V. Decker Retirement Planning Inc. bought a new stake in Visa during the fourth quarter valued at $26,000. Peterson Financial Group Inc. bought a new stake in shares of Visa during the 3rd quarter valued at about $26,000. Modus Advisors LLC acquired a new stake in Visa during the fourth quarter worth approximately $32,000. Reston Wealth Management LLC bought a new stake in Visa in the third quarter worth approximately $31,000. Finally, West Financial Advisors LLC lifted its stake in Visa by 101.4% in the third 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 during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on V shares. Keefe, Bruyette & Woods lifted their price objective on shares of Visa from $335.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company lifted their price target 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. Morgan Stanley increased their price objective on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Macquarie boosted their target price on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, TD Cowen increased their price target on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $332.81.

Visa Price Performance

Shares of NYSE V opened at $323.55 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a fifty day simple moving average of $313.86 and a two-hundred day simple moving average of $289.47. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $325.74. The firm has a market cap of $602.73 billion, a price-to-earnings ratio of 33.25, a price-to-earnings-growth ratio of 2.15 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion during 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%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.33 EPS. Analysts anticipate that Visa Inc. will post 11.2 earnings per share for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a $0.59 dividend. 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 yield of 0.73%. Visa’s dividend payout ratio (DPR) is 24.25%.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 SEC, which is available through this link. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents 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 company insiders.

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.