Concord Wealth Partners Lowers Stock Holdings in Visa Inc. (NYSE:V)

Concord Wealth Partners lowered its stake in shares of Visa Inc. (NYSE:V) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,199 shares of the credit-card processor’s stock after selling 486 shares during the quarter. Concord Wealth Partners’ holdings in Visa were worth $2,907,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in V. Peterson Financial Group Inc. acquired a new stake in shares of Visa during the 3rd quarter valued at approximately $26,000. Decker Retirement Planning Inc. acquired a new stake in shares of Visa in the 4th quarter worth approximately $26,000. Reston Wealth Management LLC acquired a new stake in shares of Visa in the 3rd quarter worth approximately $31,000. Modus Advisors LLC acquired a new stake in shares of Visa in the 4th quarter worth approximately $32,000. Finally, West Financial Advisors LLC grew 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 worth $40,000 after acquiring an additional 73 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 1.2 %

Shares of NYSE V opened at $345.92 on Tuesday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $351.25. The company has a market cap of $644.41 billion, a P/E ratio of 34.87, a P/E/G ratio of 2.30 and a beta of 0.97. The company has a current ratio of 1.12, a quick ratio of 1.28 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average price of $317.74 and a 200 day moving average price of $293.27.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Research analysts anticipate that Visa Inc. will post 11.2 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa’s payout ratio is 23.79%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group upped their price target on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Friday. Citigroup upped their price target on Visa from $354.00 to $393.00 and gave the stock a “buy” rating in a report on Friday. Barclays upped their price target on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday. Morgan Stanley upped their target price on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, BMO Capital Markets upped their target price on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $354.73.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 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.