Visa Inc. (NYSE:V) Stake Cut by Tufton Capital Management

Tufton Capital Management reduced its holdings in Visa Inc. (NYSE:V) by 1.2% in the 4th quarter, Holdings Channel reports. The fund owned 2,935 shares of the credit-card processor’s stock after selling 35 shares during the period. Tufton Capital Management’s holdings in Visa were worth $928,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. State Street Corp increased its position in Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares during the last quarter. FMR LLC increased its position in Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after purchasing an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC increased its position in Visa by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after purchasing an additional 2,772,549 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Visa by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock worth $3,188,862,000 after purchasing an additional 123,927 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Visa by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock valued at $3,168,096,000 after acquiring an additional 670,590 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tullier Kelly Mahon sold 33,741 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the transaction, the insider now owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This trade represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,885 shares of company stock worth $19,161,447 in the last 90 days. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

V has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Piper Sandler reissued an “overweight” rating and set a $383.00 price objective (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. William Blair reissued an “outperform” rating on shares of Visa in a report on Friday, January 31st. Oppenheimer reissued an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Finally, Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $353.96.

Visa Price Performance

Shares of V stock opened at $363.33 on Friday. The stock has a 50 day moving average of $333.03 and a two-hundred day moving average of $305.66. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $364.00. The company has a market capitalization of $674.99 billion, a P/E ratio of 36.63, a P/E/G ratio of 2.33 and a beta of 0.97.

Visa (NYSE:V) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping 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%. As a group, equities analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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 given a dividend of $0.59 per share. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.65%. Visa’s dividend payout ratio (DPR) is presently 23.79%.

Visa 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.