Hendley & Co. Inc. Reduces Stock Holdings in Visa Inc. (NYSE:V)

Hendley & Co. Inc. lowered its stake in Visa Inc. (NYSE:V) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,866 shares of the credit-card processor’s stock after selling 415 shares during the period. Visa makes up about 8.3% of Hendley & Co. Inc.’s investment portfolio, making the stock its 2nd largest holding. Hendley & Co. Inc.’s holdings in Visa were worth $23,661,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. State Street Corp raised its stake in Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after purchasing an additional 3,327,977 shares during the period. FMR LLC raised its stake in Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after purchasing an additional 3,265,518 shares during the period. Geode Capital Management LLC raised its stake in Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after purchasing an additional 2,772,549 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Visa during the 3rd quarter valued at $268,640,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Visa during the 3rd quarter valued at $227,342,000. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on V. Piper Sandler reissued an “overweight” rating and set a $383.00 target price (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Susquehanna boosted their price target on shares of Visa from $395.00 to $410.00 and gave the company a “positive” rating in a report on Friday, February 21st. Bank of America boosted their price target on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. UBS Group boosted their price target on shares of Visa from $350.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, Morgan Stanley boosted their price target on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $353.96.

Visa Stock Down 0.4 %

V stock opened at $350.61 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $357.15. The company has a 50-day moving average of $331.31 and a two-hundred day moving average of $304.27. The stock has a market capitalization of $651.36 billion, a price-to-earnings ratio of 35.34, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97.

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

Visa Dividend Announcement

The business also recently disclosed 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. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

Insider Activity

In related news, CAO Peter M. Andreski sold 2,332 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the transaction, the chief accounting officer now owns 4,488 shares of the company’s stock, valued at $1,569,094.56. This represents a 34.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the transaction, the insider now owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,885 shares of company stock valued at $19,161,447. Insiders own 0.13% of the company’s stock.

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.