Visa Inc. (NYSE:V) Shares Sold by Cohen Klingenstein LLC

Cohen Klingenstein LLC decreased its position in Visa Inc. (NYSE:V - Free Report) by 26.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,000 shares of the credit-card processor's stock after selling 12,800 shares during the period. Cohen Klingenstein LLC's holdings in Visa were worth $11,377,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Peterson Financial Group Inc. purchased a new stake in shares of Visa in the 3rd quarter worth approximately $26,000. Decker Retirement Planning Inc. bought a new position in Visa in the fourth quarter worth approximately $26,000. Reston Wealth Management LLC purchased a new stake in Visa during the third quarter worth $31,000. Modus Advisors LLC bought a new stake in Visa during the 4th quarter valued at $32,000. Finally, West Financial Advisors LLC increased its holdings in shares of Visa by 101.4% in the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor's stock valued at $40,000 after acquiring an additional 73 shares during the period. Institutional investors own 82.15% of the company's stock.

Visa Trading Up 0.9 %

V stock traded up $2.72 during mid-day trading on Monday, hitting $319.97. 5,746,152 shares of the company were exchanged, compared to its average volume of 5,703,089. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $321.61. The firm has a market capitalization of $596.06 billion, a P/E ratio of 32.88, a PEG ratio of 2.06 and a beta of 0.96. The business has a fifty day simple moving average of $313.41 and a 200-day simple moving average of $288.73. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the business posted $2.33 earnings per share. The company's quarterly revenue was up 11.7% on a year-over-year basis. On average, equities research analysts predict that Visa Inc. will post 11.22 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Tuesday, November 12th. This is a boost from Visa's previous quarterly dividend of $0.52. Visa's dividend payout ratio (DPR) is currently 24.25%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 2,171 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now owns 17,894 shares of the company's stock, 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. Insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Macquarie raised their price objective on Visa from $300.00 to $335.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Susquehanna boosted their price target on Visa from $339.00 to $375.00 and gave the stock a "positive" rating in a research note on Wednesday, December 11th. Monness Crespi & Hardt reaffirmed a "neutral" rating on shares of Visa in a research report on Tuesday, September 24th. Barclays boosted their target price on shares of Visa from $319.00 to $347.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. Finally, Piper Sandler raised their price target on shares of Visa from $319.00 to $322.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and an average price target of $331.92.

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.