Provident Investment Management Inc. Sells 3,011 Shares of Visa Inc. (NYSE:V)

Provident Investment Management Inc. cut its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 267,369 shares of the credit-card processor's stock after selling 3,011 shares during the quarter. Visa comprises 8.1% of Provident Investment Management Inc.'s portfolio, making the stock its biggest holding. Provident Investment Management Inc.'s holdings in Visa were worth $84,499,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of V. Decker Retirement Planning Inc. bought a new position in Visa during the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Visa in the 4th quarter valued at about $27,000. POM Investment Strategies LLC lifted its position in shares of Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock worth $31,000 after acquiring an additional 32 shares in the last quarter. Modus Advisors LLC purchased a new stake in Visa in the 4th quarter worth approximately $32,000. Finally, Compass Planning Associates Inc bought a new stake in shares of Visa during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on V shares. Citigroup reaffirmed a "neutral" rating on shares of Visa in a research note on Thursday, February 13th. Morgan Stanley upped their target price on shares of Visa from $326.00 to $371.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. William Blair reiterated an "outperform" rating on shares of Visa in a research report on Friday, January 31st. Wells Fargo & Company boosted their target price on Visa from $360.00 to $395.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, Barclays boosted their price objective on shares of Visa from $361.00 to $396.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $355.84.

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Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm's 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. This trade represents a 94.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the transaction, the insider now directly owns 26,413 shares in the company, valued at $8,642,333.60. The trade was a 59.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock worth $48,842,490 in the last three months. 0.13% of the stock is owned by company insiders.

Visa Stock Performance

Shares of Visa stock traded down $25.93 on Friday, reaching $313.46. 13,195,055 shares of the stock were exchanged, compared to its average volume of 7,209,904. 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 Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The business has a 50 day moving average price of $345.02 and a two-hundred day moving average price of $316.89. The firm has a market capitalization of $582.34 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 2.33 and a beta of 0.94.

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, topping analysts' consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. Visa's dividend payout ratio is currently 23.79%.

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.