Nexus Investment Management ULC Sells 1,195 Shares of Visa Inc. (NYSE:V)

Nexus Investment Management ULC decreased its holdings in Visa Inc. (NYSE:V) by 2.1% during the 4th quarter, HoldingsChannel reports. The firm owned 55,176 shares of the credit-card processor’s stock after selling 1,195 shares during the quarter. Visa comprises approximately 1.7% of Nexus Investment Management ULC’s holdings, making the stock its 29th largest position. Nexus Investment Management ULC’s holdings in Visa were worth $17,438,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of V. Peterson Financial Group Inc. bought a new stake in shares of Visa during the third quarter worth $26,000. Decker Retirement Planning Inc. acquired a new stake in shares of Visa during the 4th quarter valued at $26,000. Reston Wealth Management LLC bought a new stake in Visa during the 3rd quarter worth $31,000. Modus Advisors LLC acquired a new position in Visa in the 4th quarter worth about $32,000. Finally, West Financial Advisors LLC raised its position in Visa by 101.4% in the third quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock valued at $40,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction 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 sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Visa Price Performance

Shares of NYSE V opened at $319.97 on Monday. The stock has a market cap of $596.06 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 2.06 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $321.61. The firm’s 50-day simple moving average is $313.41 and its 200 day simple moving average is $288.59.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.33 earnings per share. As a group, research analysts anticipate that Visa Inc. will post 11.22 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.74%. Visa’s dividend payout ratio is presently 24.25%.

Analysts Set New Price Targets

V has been the subject of several recent research reports. Oppenheimer upped their price objective on Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Wells Fargo & Company raised their price target on shares of Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Jefferies Financial Group boosted their price objective on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Mizuho raised their target price on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Citigroup upped their price target on Visa from $326.00 to $354.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $331.92.

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.