Fortitude Advisory Group L.L.C. Sells 147 Shares of Visa Inc. (NYSE:V)

Fortitude Advisory Group L.L.C. lowered its position in Visa Inc. (NYSE:V) by 5.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,684 shares of the credit-card processor’s stock after selling 147 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Visa were worth $848,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Acorn Creek Capital LLC grew its holdings in Visa by 31.5% during the 4th quarter. Acorn Creek Capital LLC now owns 1,596 shares of the credit-card processor’s stock worth $504,000 after acquiring an additional 382 shares during the last quarter. Altus Wealth Management LLC bought a new stake in shares of Visa during the fourth quarter valued at approximately $218,000. Greenup Street Wealth Management LLC increased its holdings in shares of Visa by 4.4% in the fourth quarter. Greenup Street Wealth Management LLC now owns 10,617 shares of the credit-card processor’s stock valued at $3,355,000 after purchasing an additional 452 shares in the last quarter. BankPlus Wealth Management LLC acquired a new stake in shares of Visa in the fourth quarter valued at approximately $1,054,000. Finally, Northwest Financial Advisors raised its position in Visa by 13.4% in the 4th quarter. Northwest Financial Advisors now owns 3,391 shares of the credit-card processor’s stock worth $1,072,000 after purchasing an additional 400 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Visa

In other news, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value 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. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on V shares. Citigroup lifted their target price on Visa from $326.00 to $354.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Royal Bank of Canada upped their target price on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. BMO Capital Markets lifted their price target on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their price target on shares of Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Jefferies Financial Group lifted their target price on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average target price of $335.52.

Visa Trading Up 2.2 %

NYSE:V opened at $343.26 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $344.44. The company has a market cap of $639.46 billion, a P/E ratio of 35.28, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96. The business has a 50 day moving average price of $316.43 and a two-hundred day moving average price of $292.09.

Visa (NYSE:V) last released its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.96% and a return on equity of 53.16%. As a group, analysts expect that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.69%. Visa’s payout ratio is presently 24.25%.

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.