Visa Inc. (NYSE:V) Shares Sold by South Street Advisors LLC

South Street Advisors LLC lowered its position in Visa Inc. (NYSE:V) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,102 shares of the credit-card processor’s stock after selling 925 shares during the quarter. Visa accounts for 3.3% of South Street Advisors LLC’s investment portfolio, making the stock its 12th biggest position. South Street Advisors LLC’s holdings in Visa were worth $21,839,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new position in Visa in the third quarter valued at $26,000. Decker Retirement Planning Inc. acquired a new position in Visa in the fourth quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Visa in the fourth quarter valued at $27,000. POM Investment Strategies LLC boosted its holdings in Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after acquiring an additional 32 shares during the last quarter. Finally, Modus Advisors LLC purchased a new position in Visa in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.8 %

Shares of Visa stock opened at $334.35 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a market cap of $621.15 billion, a P/E ratio of 33.70, a P/E/G ratio of 2.33 and a beta of 0.95. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $366.54. The business has a 50-day moving average price of $338.39 and a 200 day moving average price of $311.61.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating 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%. On average, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have commented on V shares. Oppenheimer reissued an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. The Goldman Sachs Group raised their price objective on Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Susquehanna raised their price objective on Visa from $395.00 to $410.00 and gave the company a “positive” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. raised their price objective on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $353.96.

Insider Buying and Selling at Visa

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the business’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 transaction of $11,801,589.57. Following the completion of the transaction, the insider now directly owns 36,566 shares in the company, valued at approximately $12,789,689.82. The trade was a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’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 value of $2,739,263.60. The disclosure for this sale can be found here. Insiders sold a total of 103,855 shares of company stock worth $35,165,827 over the last ninety days. Company insiders own 0.13% of the company’s stock.

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.