Victory Capital Management Inc. Sells 40,524 Shares of Visa Inc. (NYSE:V)

Victory Capital Management Inc. trimmed its holdings in Visa Inc. (NYSE:V - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,188,153 shares of the credit-card processor's stock after selling 40,524 shares during the period. Victory Capital Management Inc. owned 0.06% of Visa worth $375,504,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Riverstone Advisors LLC bought a new position in shares of Visa in the 4th quarter valued at $217,000. Journey Strategic Wealth LLC increased its stake in shares of Visa by 16.4% in the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor's stock valued at $3,058,000 after purchasing an additional 1,361 shares during the last quarter. Copley Financial Group Inc. bought a new position in shares of Visa in the 3rd quarter valued at $616,000. Calamos Wealth Management LLC increased its stake in shares of Visa by 0.6% in the 4th quarter. Calamos Wealth Management LLC now owns 77,443 shares of the credit-card processor's stock valued at $24,475,000 after purchasing an additional 435 shares during the last quarter. Finally, Oak Ridge Investments LLC increased its stake in shares of Visa by 5.9% in the 4th quarter. Oak Ridge Investments LLC now owns 75,456 shares of the credit-card processor's stock valued at $23,847,000 after purchasing an additional 4,198 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,572 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the transaction, the general counsel now directly owns 11,925 shares of the company's stock, valued at approximately $4,054,500. This represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the transaction, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $194,931. This trade represents a 94.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,505 shares of company stock valued at $22,290,507. 0.13% of the stock is owned by insiders.

Visa Stock Performance

Shares of V traded down $0.05 on Wednesday, reaching $352.18. 8,241,568 shares of the company's stock traded hands, compared to its average volume of 6,245,479. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a market cap of $654.27 billion, a PE ratio of 35.50, a PEG ratio of 2.33 and a beta of 0.95. The stock's 50 day simple moving average is $335.17 and its two-hundred day simple moving average is $307.55. 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 issued its quarterly 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, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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 dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Tuesday, February 11th. Visa's payout ratio is 23.79%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Susquehanna boosted their price objective on Visa from $395.00 to $410.00 and gave the stock a "positive" rating in a research report on Friday, February 21st. Oppenheimer restated an "outperform" rating on shares of Visa in a research report on Thursday, February 13th. Bank of America boosted their price objective on Visa from $331.00 to $363.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods restated a "hold" rating on shares of Visa in a research report on Thursday, February 13th. Finally, Seaport Res Ptn raised Visa from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 14th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $353.96.

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.