Cannell & Spears LLC Sells 787 Shares of Visa Inc. (NYSE:V)

Cannell & Spears LLC cut its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,850 shares of the credit-card processor's stock after selling 787 shares during the period. Cannell & Spears LLC's holdings in Visa were worth $7,538,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of V. Howard Capital Management Group LLC boosted its position in Visa by 0.6% in the 3rd quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor's stock valued at $29,242,000 after buying an additional 610 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Visa by 7.7% in the third quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor's stock valued at $1,576,366,000 after acquiring an additional 411,210 shares during the last quarter. Encompass More Asset Management acquired a new stake in Visa in the third quarter worth about $256,000. Cobblestone Capital Advisors LLC NY raised its holdings in Visa by 0.5% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 120,643 shares of the credit-card processor's stock worth $33,171,000 after purchasing an additional 567 shares during the last quarter. Finally, Semmax Financial Advisors Inc. lifted its position in Visa by 2.5% during the 3rd quarter. Semmax Financial Advisors Inc. now owns 13,830 shares of the credit-card processor's stock valued at $3,803,000 after purchasing an additional 338 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

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Visa Stock Up 0.0 %

NYSE V traded up $0.14 during trading on Wednesday, hitting $346.49. The stock had a trading volume of 5,660,067 shares, compared to its average volume of 7,155,309. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The company's 50-day moving average price is $344.68 and its two-hundred day moving average price is $316.37. The company has a market capitalization of $643.70 billion, a PE ratio of 34.93, a P/E/G ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS 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%. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Tuesday, February 11th. Visa's payout ratio is 23.79%.

Analyst Ratings Changes

V has been the subject of several analyst reports. Piper Sandler reiterated an "overweight" rating and set a $383.00 price target (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Raymond James reiterated an "outperform" rating and set a $393.00 target price (up previously from $374.00) on shares of Visa in a research report on Friday, January 31st. The Goldman Sachs Group raised their price target on Visa from $346.00 to $384.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. UBS Group lifted their price objective on Visa from $350.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Finally, Barclays increased their target price on Visa from $361.00 to $396.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $355.84.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 39,350 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total value of $13,395,133.50. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company's stock, valued at approximately $8,991,249.33. This trade represents a 59.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tullier Kelly Mahon sold 33,741 shares of the company's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the sale, the insider now directly owns 36,566 shares in the company, valued at $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,205 shares of company stock valued at $48,560,961. 0.13% of the stock is owned by insiders.

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.