Philadelphia Trust Co. Cuts Holdings in Visa Inc. (NYSE:V)

Philadelphia Trust Co. reduced its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,660 shares of the credit-card processor's stock after selling 2,109 shares during the quarter. Philadelphia Trust Co.'s holdings in Visa were worth $7,161,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of V. Riverstone Advisors LLC purchased a new position in shares of Visa during the fourth quarter valued at approximately $217,000. Journey Strategic Wealth LLC lifted its position in Visa by 16.4% in the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor's stock worth $3,058,000 after buying an additional 1,361 shares during the last quarter. King Wealth Management Group lifted 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 valued at $23,663,000 after buying an additional 6,172 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Visa in the 4th quarter worth $10,163,000. Finally, Copley Financial Group Inc. purchased a new position in Visa during the third quarter valued at approximately $616,000. 82.15% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the transaction, the chief executive officer now directly owns 537 shares of the company's stock, valued at $194,931. The trade was a 94.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the sale, the chief accounting officer now directly owns 4,488 shares in the company, valued at $1,569,094.56. This represents a 34.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,205 shares of company stock valued at $48,842,490. 0.13% of the stock is currently owned by insiders.

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Visa Trading Up 0.2 %

Shares of V traded up $0.70 during trading hours on Tuesday, hitting $335.88. The company had a trading volume of 4,382,440 shares, compared to its average volume of 7,254,069. The firm has a market cap of $623.98 billion, a P/E ratio of 33.86, 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. The stock's 50 day moving average price is $342.12 and its 200 day moving average price is $319.51. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $366.54.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share 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, research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 0.70%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa's payout ratio is 23.79%.

Analysts Set New Price Targets

Several research analysts recently weighed in on V shares. Piper Sandler restated an "overweight" rating and set a $383.00 target price (up from $368.00) on shares of Visa in a research note on Friday, January 31st. The Goldman Sachs Group increased their price target on shares of Visa from $346.00 to $384.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Raymond James reiterated an "outperform" rating and set a $393.00 price objective (up from $374.00) on shares of Visa in a research note on Friday, January 31st. UBS Group lifted their price target on Visa from $350.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods reaffirmed a "hold" rating on shares of Visa in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $355.84.

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.