Sit Investment Associates Inc. Sells 7,483 Shares of Visa Inc. (NYSE:V)

Sit Investment Associates Inc. trimmed its holdings in Visa Inc. (NYSE:V - Free Report) by 8.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,201 shares of the credit-card processor's stock after selling 7,483 shares during the period. Sit Investment Associates Inc.'s holdings in Visa were worth $24,083,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Riverstone Advisors LLC purchased a new position in Visa during the 4th quarter worth $217,000. Journey Strategic Wealth LLC boosted its holdings in Visa by 16.4% during the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor's stock worth $3,058,000 after purchasing an additional 1,361 shares during the last quarter. King Wealth Management Group grew its position in Visa by 9.0% in the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock worth $23,663,000 after purchasing an additional 6,172 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Visa in the 4th quarter valued at about $10,163,000. Finally, Copley Financial Group Inc. purchased a new stake in Visa in the 3rd quarter valued at about $616,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Visa

In related news, CAO Peter M. Andreski sold 2,332 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 4,488 shares of the company's stock, valued at $1,569,094.56. This represents a 34.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the sale, the general counsel now directly owns 11,925 shares of the company's stock, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,205 shares of company stock valued at $48,842,490. 0.13% of the stock is owned by corporate insiders.

Visa Price Performance

NYSE:V traded up $2.01 during trading hours on Wednesday, hitting $310.28. The stock had a trading volume of 3,032,990 shares, compared to its average volume of 7,240,568. The company has a 50 day simple moving average of $343.47 and a two-hundred day simple moving average of $317.55. The firm has a market capitalization of $576.43 billion, a price-to-earnings ratio of 31.28, a P/E/G ratio of 2.33 and a beta of 0.94. 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 Inc. has a one year low of $252.70 and a one year 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 (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Tuesday, February 11th. Visa's payout ratio is 23.79%.

Wall Street Analysts Forecast Growth

V has been the subject of several recent analyst reports. Evercore ISI initiated coverage on Visa in a report on Wednesday. They issued an "in-line" rating and a $330.00 target price for the company. Piper Sandler reaffirmed an "overweight" rating and set a $383.00 target price (up from $368.00) on shares of Visa in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on Visa from $340.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Barclays increased their price target on shares of Visa from $361.00 to $396.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, Raymond James reiterated an "outperform" rating and issued a $393.00 target price (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $355.84.

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.