Visa Inc. (NYSE:V) Shares Sold by Cohen Klingenstein LLC

Cohen Klingenstein LLC lessened its holdings in Visa Inc. (NYSE:V) by 26.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 36,000 shares of the credit-card processor’s stock after selling 12,800 shares during the quarter. Cohen Klingenstein LLC’s holdings in Visa were worth $11,377,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. increased its holdings in Visa by 5.5% during the 2nd quarter. Pacer Advisors Inc. now owns 148,785 shares of the credit-card processor’s stock valued at $39,052,000 after acquiring an additional 7,807 shares in the last quarter. Merriman Wealth Management LLC lifted its stake in shares of Visa by 3.6% during the 2nd quarter. Merriman Wealth Management LLC now owns 1,524 shares of the credit-card processor’s stock worth $400,000 after purchasing an additional 53 shares during the period. Kowal Investment Group LLC lifted its position in Visa by 2.0% during the second quarter. Kowal Investment Group LLC now owns 5,431 shares of the credit-card processor’s stock worth $1,426,000 after buying an additional 109 shares during the period. ProShare Advisors LLC boosted its position in shares of Visa by 4.9% in the second quarter. ProShare Advisors LLC now owns 468,804 shares of the credit-card processor’s stock worth $123,047,000 after acquiring an additional 22,009 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its holdings in shares of Visa by 21,918.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 28,183 shares of the credit-card processor’s stock valued at $7,397,000 after purchasing an additional 28,055 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

NYSE V opened at $319.97 on Monday. The company has a 50-day moving average price of $313.41 and a two-hundred day moving average price of $288.59. The stock has a market cap of $596.06 billion, a price-to-earnings ratio of 32.88, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $321.61.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period last year, the firm earned $2.33 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Analysts forecast that Visa Inc. will post 11.22 EPS for the current year.

Visa Increases Dividend

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

Wall Street Analysts Forecast Growth

V has been the subject of a number of research reports. Barclays boosted their target price on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Jefferies Financial Group lifted their price target 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. Robert W. Baird upped their price objective on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Finally, Susquehanna increased their price target on Visa from $339.00 to $375.00 and gave the company a “positive” rating in a report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $331.92.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 disclosure for this sale can be found here. 0.13% of the stock is owned by corporate 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.