Westpac Banking Corp Has $13.91 Million Holdings in Visa Inc. (NYSE:V)

Westpac Banking Corp trimmed its holdings in Visa Inc. (NYSE:V - Free Report) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,997 shares of the credit-card processor's stock after selling 2,890 shares during the quarter. Visa comprises 0.9% of Westpac Banking Corp's portfolio, making the stock its 13th largest holding. Westpac Banking Corp's holdings in Visa were worth $13,905,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. acquired a new stake in shares of Visa in the 4th quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Visa during the fourth quarter worth approximately $27,000. POM Investment Strategies LLC lifted its position in Visa by 48.5% in 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 during the period. Modus Advisors LLC bought a new position in Visa during the 4th quarter valued at $32,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Visa during the 4th quarter valued at $32,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on V. Raymond James restated an "outperform" rating and issued a $393.00 price objective (up previously from $374.00) on shares of Visa in a report on Friday, January 31st. Bank of America raised their price objective on shares of Visa from $331.00 to $363.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Citigroup reiterated a "neutral" rating on shares of Visa in a report on Thursday, February 13th. Oppenheimer reissued an "outperform" rating on shares of Visa in a research note on Thursday, February 13th. Finally, Seaport Res Ptn upgraded shares of Visa from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 14th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Visa currently has an average rating of "Moderate Buy" and an average price target of $355.84.

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Visa Stock Down 2.1 %

V stock traded down $7.19 during midday trading on Thursday, reaching $339.14. The company had a trading volume of 8,786,063 shares, compared to its average volume of 7,173,310. The company has a 50 day moving average of $345.36 and a two-hundred day moving average of $316.73. The company has a market capitalization of $630.04 billion, a P/E ratio of 34.19, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were paid a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.70%. Visa's payout ratio is 23.79%.

Insider Buying and Selling

In related news, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the sale, the insider now owns 36,566 shares of the company's stock, valued at approximately $12,789,689.82. The trade was a 47.99 % decrease in their position. The transaction 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 stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the transaction, the chief executive officer now directly owns 537 shares in the company, valued at $194,931. The trade was a 94.14 % 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 worth $48,842,490. Insiders own 0.13% of the company's stock.

Visa Company 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.