Weitz Investment Management Inc. Sells 12,500 Shares of Visa Inc. (NYSE:V)

Weitz Investment Management Inc. decreased its position in Visa Inc. (NYSE:V - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 346,700 shares of the credit-card processor's stock after selling 12,500 shares during the quarter. Visa accounts for approximately 5.7% of Weitz Investment Management Inc.'s holdings, making the stock its 2nd biggest holding. Weitz Investment Management Inc.'s holdings in Visa were worth $109,571,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Decker Retirement Planning Inc. bought a new stake in shares of Visa during the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC acquired 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 purchasing an additional 32 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of Visa during the fourth quarter worth approximately $32,000. Finally, Compass Planning Associates Inc bought a new stake in shares of Visa during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Activity

In related news, CAO Peter M. Andreski sold 2,332 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the transaction, the chief accounting officer now directly owns 4,488 shares in the company, valued at approximately $1,569,094.56. The trade was a 34.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the company's 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 sale, the general counsel now directly owns 11,925 shares in the company, valued at $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock worth $48,560,961 in the last quarter. Corporate insiders own 0.13% of the company's stock.

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Wall Street Analysts Forecast Growth

V has been the topic of several research reports. Citigroup reaffirmed a "neutral" rating on shares of Visa in a report on Thursday, February 13th. JPMorgan Chase & Co. lifted their price objective on Visa from $340.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Seaport Res Ptn raised shares of Visa from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Piper Sandler restated an "overweight" rating and issued a $383.00 price objective (up from $368.00) on shares of Visa in a report on Friday, January 31st. Finally, The Goldman Sachs Group upped their target price on shares of Visa from $346.00 to $384.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Visa presently has an average rating of "Moderate Buy" and a consensus target price of $355.84.

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 5,667,347 shares, compared to its average volume of 7,156,352. 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 $345.14 and its two-hundred day moving average price is $316.58. 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa's dividend payout ratio is 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.