Fragasso Financial Advisors Inc trimmed its position in shares of Visa Inc. (NYSE:V - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,393 shares of the credit-card processor's stock after selling 1,863 shares during the period. Visa comprises approximately 0.7% of Fragasso Financial Advisors Inc's portfolio, making the stock its 20th biggest holding. Fragasso Financial Advisors Inc's holdings in Visa were worth $9,605,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Agate Pass Investment Management LLC increased its position in Visa by 10.3% during the fourth quarter. Agate Pass Investment Management LLC now owns 5,184 shares of the credit-card processor's stock worth $1,638,000 after buying an additional 486 shares during the last quarter. Asset Allocation & Management Company LLC bought a new stake in shares of Visa during the 4th quarter worth about $363,000. Thomasville National Bank increased its holdings in shares of Visa by 1.4% during the 4th quarter. Thomasville National Bank now owns 114,741 shares of the credit-card processor's stock valued at $36,263,000 after acquiring an additional 1,633 shares during the last quarter. Compton Wealth Advisory Group LLC raised its stake in shares of Visa by 0.5% in the 4th quarter. Compton Wealth Advisory Group LLC now owns 11,605 shares of the credit-card processor's stock valued at $3,668,000 after acquiring an additional 57 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its stake in shares of Visa by 14.8% in the 4th quarter. Capital Investment Advisors LLC now owns 44,024 shares of the credit-card processor's stock valued at $13,913,000 after acquiring an additional 5,659 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.
Visa Stock Down 0.4 %
Shares of Visa stock traded down $1.12 on Monday, hitting $306.59. The company had a trading volume of 9,568,338 shares, compared to its average volume of 6,080,117. The stock has a 50-day moving average of $312.14 and a 200-day moving average of $287.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $321.61. The firm has a market capitalization of $571.14 billion, a P/E ratio of 31.51, a P/E/G ratio of 2.11 and a beta of 0.96.
Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the company earned $2.33 earnings per share. Visa's quarterly revenue was up 11.7% on a year-over-year basis. Research analysts predict that Visa Inc. will post 11.23 earnings per share for the current year.
Visa Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. This is a positive change from Visa's previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Tuesday, November 12th. Visa's dividend payout ratio is 24.25%.
Insider Buying and Selling at Visa
In other news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.
Analysts Set New Price Targets
Several analysts recently weighed in on V shares. Bank of America increased their target price on Visa from $279.00 to $308.00 and gave the company a "neutral" rating in a research note on Tuesday, September 17th. TD Cowen increased their price objective on Visa from $318.00 to $325.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Citigroup boosted their target price on shares of Visa from $319.00 to $326.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price target on shares of Visa from $326.00 to $371.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Finally, Royal Bank of Canada boosted their price objective on shares of Visa from $311.00 to $322.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $330.85.
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About Visa
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Free Report)
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.
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