Mystic Asset Management Inc. Sells 190 Shares of Visa Inc. (NYSE:V)

Mystic Asset Management Inc. lessened its stake in Visa Inc. (NYSE:V) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,685 shares of the credit-card processor’s stock after selling 190 shares during the quarter. Visa makes up approximately 1.0% of Mystic Asset Management Inc.’s portfolio, making the stock its 27th biggest holding. Mystic Asset Management Inc.’s holdings in Visa were worth $3,693,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of V. Raymond James Financial Inc. purchased a new stake in shares of Visa during the 4th quarter valued at approximately $1,955,403,000. Proficio Capital Partners LLC boosted its holdings in shares of Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after acquiring an additional 3,926,049 shares during the period. State Street Corp boosted its holdings in shares of Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after acquiring an additional 3,327,977 shares during the period. FMR LLC grew its position in shares of Visa by 6.1% in the third 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 in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of 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. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Tullier Kelly Mahon sold 33,741 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares in the company, valued at $12,789,689.82. The trade was a 47.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,855 shares of company stock valued at $35,165,827 in the last ninety days. Company insiders own 0.13% of the company’s stock.

Visa Price Performance

Shares of Visa stock opened at $334.35 on Tuesday. 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 52-week low of $252.70 and a 52-week high of $366.54. The company has a fifty day moving average of $338.39 and a 200-day moving average of $311.61. The stock has a market capitalization of $621.15 billion, a price-to-earnings ratio of 33.70, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (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 expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.71%. Visa’s payout ratio is 23.79%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. StockNews.com lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Citigroup reaffirmed a “neutral” rating on shares of Visa in a research note on Thursday, February 13th. UBS Group increased their target price on shares of Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Susquehanna boosted their price target on shares of Visa from $395.00 to $410.00 and gave the company a “positive” rating in a research report on Friday, February 21st. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $353.96.

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.