Klingman & Associates LLC Sells 1,706 Shares of Visa Inc. (NYSE:V)

Klingman & Associates LLC lowered its stake in shares of Visa Inc. (NYSE:V - Free Report) by 18.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,608 shares of the credit-card processor's stock after selling 1,706 shares during the quarter. Klingman & Associates LLC's holdings in Visa were worth $2,404,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Peterson Financial Group Inc. bought a new stake in shares of Visa during the 3rd quarter worth approximately $26,000. Decker Retirement Planning Inc. bought a new stake in Visa during the fourth quarter worth $26,000. Reston Wealth Management LLC acquired a new stake in shares of Visa in the 3rd quarter valued at $31,000. POM Investment Strategies LLC increased its stake in shares of Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. Finally, Modus Advisors LLC acquired a new position in shares of Visa during the 4th quarter worth $32,000. Institutional investors own 82.15% of the company's stock.

Visa Stock Down 0.6 %

Shares of Visa stock traded down $2.22 during trading on Friday, reaching $348.27. 6,910,504 shares of the company traded hands, compared to its average volume of 5,753,988. The firm has a market capitalization of $647.01 billion, a PE ratio of 35.11, a P/E/G ratio of 2.36 and a beta of 0.97. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $357.15. The company has a 50 day moving average price of $328.47 and a 200-day moving average price of $301.39. 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 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 net margin of 54.27% and a return on equity of 54.79%. As a group, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. Visa's dividend payout ratio (DPR) is presently 23.79%.

Insider Activity

In related 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 $12,789,689.82. This represents a 47.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The shares were 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 55,885 shares of company stock worth $19,161,447 over the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

V has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their target price on Visa from $320.00 to $330.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Citigroup lifted their price target on shares of Visa from $354.00 to $393.00 and gave the company a "buy" rating in a report on Friday, January 31st. Keefe, Bruyette & Woods increased their price objective on shares of Visa from $360.00 to $400.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on shares of Visa from $340.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada increased their price target on Visa from $311.00 to $322.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $355.31.

Visa Company 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.