Columbus Hill Capital Management L.P. Sells 3,612 Shares of Visa Inc. (NYSE:V)

Columbus Hill Capital Management L.P. cut its stake in shares of Visa Inc. (NYSE:V - Free Report) by 10.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,508 shares of the credit-card processor's stock after selling 3,612 shares during the period. Visa comprises approximately 2.0% of Columbus Hill Capital Management L.P.'s investment portfolio, making the stock its 17th biggest position. Columbus Hill Capital Management L.P.'s holdings in Visa were worth $10,274,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the business. Riverstone Advisors LLC bought a new stake in shares of Visa in the 4th quarter valued at $217,000. Journey Strategic Wealth LLC boosted its position in shares of Visa by 16.4% during the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor's stock valued at $3,058,000 after buying an additional 1,361 shares during the last quarter. King Wealth Management Group boosted its holdings in Visa by 9.0% during the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock worth $23,663,000 after acquiring an additional 6,172 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Visa in the 4th quarter worth about $10,163,000. Finally, Copley Financial Group Inc. bought a new stake in Visa during the third quarter worth $616,000. Institutional investors own 82.15% of the company's stock.

Analysts Set New Price Targets

V has been the topic of a number of research analyst reports. Raymond James reissued an "outperform" rating and issued a $393.00 price target (up from $374.00) on shares of Visa in a report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on Visa from $340.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. 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. Oppenheimer reaffirmed an "outperform" rating on shares of Visa in a report on Thursday, February 13th. Finally, Barclays lifted their price target on Visa from $361.00 to $396.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Visa presently has a consensus rating of "Moderate Buy" and an average target price of $355.84.

Remove Ads

Visa Trading Down 0.7 %

Visa stock traded down $2.18 during mid-day trading on Tuesday, hitting $310.14. The company's stock had a trading volume of 5,819,221 shares, compared to its average volume of 7,237,054. The stock has a market cap of $576.17 billion, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The business has a 50 day moving average price of $344.58 and a 200-day moving average price of $317.46. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data 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 net margin of 54.27% and a return on equity of 54.79%. As a group, analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. 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 Visa stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 36,566 shares in the company, valued at $12,789,689.82. The trade was a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $2,930,800.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,205 shares of company stock valued at $48,842,490. 0.13% of the stock is 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.