Visa Inc. (NYSE:V) Stake Trimmed by Magellan Asset Management Ltd

Magellan Asset Management Ltd trimmed its stake in shares of Visa Inc. (NYSE:V - Free Report) by 26.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 978,707 shares of the credit-card processor's stock after selling 344,993 shares during the quarter. Visa comprises about 3.4% of Magellan Asset Management Ltd's portfolio, making the stock its 9th biggest holding. Magellan Asset Management Ltd owned approximately 0.05% of Visa worth $309,311,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Decker Retirement Planning Inc. bought a new stake in Visa during the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa during the 4th quarter worth $27,000. POM Investment Strategies LLC boosted its stake 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 buying an additional 32 shares in the last quarter. Modus Advisors LLC acquired a new position in Visa during the fourth quarter worth about $32,000. Finally, Compass Planning Associates Inc acquired a new stake in shares of Visa in the 4th quarter valued at approximately $32,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

V has been the subject of several research reports. Barclays increased their price objective on shares of Visa from $361.00 to $396.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods reissued a "hold" rating on shares of Visa in a report on Thursday, February 13th. UBS Group upped their target price on Visa from $350.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Raymond James reiterated an "outperform" rating and issued a $393.00 target price (up from $374.00) on shares of Visa in a research report on Friday, January 31st. Finally, Piper Sandler restated an "overweight" rating and set a $383.00 price target (up from $368.00) on shares of Visa in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $355.84.

Remove Ads

Visa Stock Down 2.1 %

NYSE:V traded down $7.19 during trading hours on Thursday, reaching $339.14. The company had a trading volume of 8,786,063 shares, compared to its average volume of 7,173,310. The business's 50-day simple moving average is $345.36 and its two-hundred day simple moving average is $316.73. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The firm has a market cap of $630.04 billion, a price-to-earnings ratio of 34.19, a P/E/G ratio of 2.33 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 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, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa's payout ratio is currently 23.79%.

Insiders Place Their Bets

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the transaction, the insider now directly owns 36,566 shares of the company's stock, valued at $12,789,689.82. The trade was a 47.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of the company's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the sale, the chief accounting officer now directly owns 4,488 shares of the company's stock, valued at $1,569,094.56. The trade was a 34.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 143,205 shares of company stock worth $48,842,490. 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.