Visa Inc. (NYSE:V) Shares Sold by REDW Wealth LLC

REDW Wealth LLC reduced its position in shares of Visa Inc. (NYSE:V) by 76.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 687 shares of the credit-card processor’s stock after selling 2,213 shares during the period. REDW Wealth LLC’s holdings in Visa were worth $217,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Swedbank AB lifted its holdings in shares of Visa by 10.7% in the 3rd quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock valued at $566,153,000 after purchasing an additional 199,440 shares during the last quarter. Howard Capital Management Group LLC increased its holdings in shares of Visa by 0.6% in the third quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock valued at $29,242,000 after purchasing an additional 610 shares during the period. Pettinga Financial Advisors LLC acquired a new stake in shares of Visa during the third quarter worth $228,000. Principal Financial Group Inc. grew its position in Visa by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock valued at $1,576,366,000 after buying an additional 411,210 shares during the last quarter. Finally, Pegasus Partners Ltd. increased its stake in Visa by 6.5% in the 3rd quarter. Pegasus Partners Ltd. now owns 18,437 shares of the credit-card processor’s stock valued at $5,069,000 after buying an additional 1,121 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Up 0.5 %

NYSE V opened at $345.79 on Monday. Visa Inc. has a one year low of $252.70 and a one year high of $366.54. The company’s 50 day moving average price is $336.18 and its 200 day moving average price is $308.92. The firm has a market capitalization of $642.41 billion, a price-to-earnings ratio of 34.86, a PEG ratio of 2.33 and a beta of 0.95. 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 (NYSE:V) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

Insider Activity at Visa

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now owns 36,566 shares in the company, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,505 shares of company stock valued at $22,290,507. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on V shares. Morgan Stanley lifted their target price on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. William Blair reiterated an “outperform” rating on shares of Visa in a research report on Friday, January 31st. 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. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group lifted their price objective on Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $353.96.

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.