CX Institutional Sells 1,031 Shares of Visa Inc. (NYSE:V)

CX Institutional decreased its position in Visa Inc. (NYSE:V) by 1.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 51,967 shares of the credit-card processor’s stock after selling 1,031 shares during the quarter. CX Institutional’s holdings in Visa were worth $16,424,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new stake in shares of Visa in the third quarter worth $26,000. Decker Retirement Planning Inc. purchased a new stake in shares of Visa in the fourth quarter worth $26,000. Reston Wealth Management LLC purchased a new stake in shares of Visa in the third quarter worth $31,000. Modus Advisors LLC purchased a new stake in shares of Visa in the fourth quarter worth $32,000. Finally, West Financial Advisors LLC grew its stake in shares of Visa by 101.4% in the third quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock worth $40,000 after acquiring an additional 73 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.6 %

Shares of NYSE:V opened at $330.20 on Monday. The stock has a 50 day moving average of $314.95 and a 200 day moving average of $290.59. The company has a market cap of $615.11 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 2.17 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 12-month low of $252.70 and a 12-month high of $331.09.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 EPS. As a group, equities research analysts expect that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a $0.59 dividend. The ex-dividend date was Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.71%. Visa’s payout ratio is currently 24.25%.

Insider Buying and Selling

In related 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 value of $2,739,263.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 2,171 shares of the business’s 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 completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. This 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Morgan Stanley increased their target price on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada increased their target price on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Oppenheimer increased their price objective on Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. 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. Finally, Jefferies Financial Group increased their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $335.52.

About Visa

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.