Farther Finance Advisors LLC Cuts Position in Visa Inc. (NYSE:V)

Farther Finance Advisors LLC decreased its holdings in Visa Inc. (NYSE:V) by 0.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 36,186 shares of the credit-card processor’s stock after selling 115 shares during the period. Farther Finance Advisors LLC’s holdings in Visa were worth $11,436,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of V. Raymond James Financial Inc. purchased a new position in Visa in the fourth quarter valued at approximately $1,955,403,000. Proficio Capital Partners LLC raised its holdings in Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after buying an additional 3,926,049 shares during the period. State Street Corp raised its stake in shares of Visa by 4.5% during the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after purchasing an additional 3,327,977 shares during the period. FMR LLC raised its stake in shares of Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after purchasing an additional 3,265,518 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Visa by 7.7% during the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after purchasing an additional 2,772,549 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,572 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the sale, the general counsel now directly owns 11,925 shares of the company’s stock, valued at approximately $4,054,500. This represents a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the sale, the insider now directly owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 64,505 shares of company stock valued at $22,290,507. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

V has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Raymond James reiterated an “outperform” rating and set a $393.00 price objective (up previously from $374.00) on shares of Visa in a research note on Friday, January 31st. Morgan Stanley lifted their price objective on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Piper Sandler reiterated an “overweight” rating and set a $383.00 price objective (up previously from $368.00) on shares of Visa in a research note on Friday, January 31st. Finally, Wells Fargo & Company lifted their price objective on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Six equities research 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $353.96.

Visa Stock Down 2.8 %

Visa stock opened at $331.93 on Wednesday. The company has a 50-day simple moving average of $337.01 and a 200-day simple moving average of $309.89. The firm has a market capitalization of $616.65 billion, a P/E ratio of 33.46, a P/E/G ratio of 2.33 and a beta of 0.95. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a one year low of $252.70 and a one year high of $366.54.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating 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, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date was Tuesday, February 11th. Visa’s payout ratio is 23.79%.

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.