McElhenny Sheffield Capital Management LLC Sells 1,834 Shares of Visa Inc. (NYSE:V)

McElhenny Sheffield Capital Management LLC cut its holdings in Visa Inc. (NYSE:V - Free Report) by 63.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,046 shares of the credit-card processor's stock after selling 1,834 shares during the quarter. McElhenny Sheffield Capital Management LLC's holdings in Visa were worth $331,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp raised its stake in Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor's stock valued at $21,064,179,000 after buying an additional 3,327,977 shares during the period. FMR LLC grew its position in shares of Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor's stock valued at $15,702,901,000 after purchasing an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor's stock worth $10,601,135,000 after purchasing an additional 2,772,549 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Visa by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor's stock valued at $3,833,981,000 after buying an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Visa by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor's stock worth $3,783,857,000 after buying an additional 312,286 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Up 1.3 %

Shares of V traded up $4.14 during trading hours on Tuesday, reaching $323.76. The stock had a trading volume of 5,652,636 shares, compared to its average volume of 5,746,346. The firm has a 50-day simple moving average of $313.59 and a 200 day simple moving average of $289.09. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $324.58. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $603.12 billion, a price-to-earnings ratio of 33.27, a P/E/G ratio of 2.15 and a beta of 0.96.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analysts' expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business's revenue was up 11.7% on a year-over-year basis. During the same period last year, the company earned $2.33 earnings per share. Equities research analysts predict that Visa Inc. will post 11.2 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a $0.59 dividend. This is a positive change from Visa's previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.73%. Visa's dividend payout ratio is presently 24.25%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business's 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of Visa 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 completion of the sale, the insider now directly owns 17,894 shares in the company, 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. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Barclays lifted their price objective on shares of Visa from $319.00 to $347.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Oppenheimer lifted their price target on shares of Visa from $321.00 to $375.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. Monness Crespi & Hardt reissued a "neutral" rating on shares of Visa in a research report on Tuesday, September 24th. Morgan Stanley raised their price objective on Visa from $326.00 to $371.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Finally, Keefe, Bruyette & Woods upped their target price on Visa from $335.00 to $360.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $331.92.

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.