Coerente Capital Management Reduces Holdings in Visa Inc. (NYSE:V)

Coerente Capital Management lowered its stake in shares of Visa Inc. (NYSE:V) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,119 shares of the credit-card processor’s stock after selling 98 shares during the quarter. Visa comprises 4.4% of Coerente Capital Management’s holdings, making the stock its 9th largest holding. Coerente Capital Management’s holdings in Visa were worth $23,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Symphony Financial Ltd. Co. raised its stake in Visa by 0.7% in the fourth quarter. Symphony Financial Ltd. Co. now owns 11,059 shares of the credit-card processor’s stock valued at $3,579,000 after buying an additional 72 shares during the last quarter. Costello Asset Management INC raised its stake in Visa by 31.6% in the fourth quarter. Costello Asset Management INC now owns 11,129 shares of the credit-card processor’s stock valued at $3,517,000 after buying an additional 2,674 shares during the last quarter. Abundance Wealth Counselors raised its stake in Visa by 2.6% in the fourth quarter. Abundance Wealth Counselors now owns 8,478 shares of the credit-card processor’s stock valued at $2,679,000 after buying an additional 211 shares during the last quarter. Brio Consultants LLC raised its stake in Visa by 2.9% in the fourth quarter. Brio Consultants LLC now owns 4,800 shares of the credit-card processor’s stock valued at $1,517,000 after buying an additional 136 shares during the last quarter. Finally, Independence Bank of Kentucky raised its stake in Visa by 18.3% in the fourth quarter. Independence Bank of Kentucky now owns 32,149 shares of the credit-card processor’s stock valued at $10,160,000 after buying an additional 4,981 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on V shares. Keefe, Bruyette & Woods raised their price objective on Visa from $360.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday. UBS Group raised their price objective on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company raised their price objective on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research note on Friday. Citigroup raised their price objective on Visa from $354.00 to $393.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $354.73.

Visa Stock Performance

Shares of NYSE:V opened at $345.92 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.28. The business’s 50 day moving average price is $317.74 and its 200-day moving average price is $293.27. The firm has a market capitalization of $644.41 billion, a PE ratio of 34.87, a P/E/G ratio of 2.30 and a beta of 0.97. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $351.25.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, equities research analysts expect that Visa Inc. will post 11.2 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction on 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 directly owns 17,894 shares in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

About Visa

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.