Fiduciary Group LLC Cuts Stock Holdings in Visa Inc. (NYSE:V)

Fiduciary Group LLC reduced its position in shares of Visa Inc. (NYSE:V) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,037 shares of the credit-card processor’s stock after selling 616 shares during the period. Visa makes up approximately 1.4% of Fiduciary Group LLC’s portfolio, making the stock its 16th largest position. Fiduciary Group LLC’s holdings in Visa were worth $13,917,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Riverstone Advisors LLC purchased a new position in Visa in the fourth quarter valued at about $217,000. Journey Strategic Wealth LLC increased its holdings in Visa by 16.4% in the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock valued at $3,058,000 after buying an additional 1,361 shares in the last quarter. King Wealth Management Group increased its holdings in Visa by 9.0% in the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after buying an additional 6,172 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Visa in the fourth quarter valued at about $10,163,000. Finally, Copley Financial Group Inc. purchased a new position in Visa in the third quarter valued at about $616,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on V shares. Barclays increased their target price on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Raymond James restated an “outperform” rating and set a $393.00 price objective (up from $374.00) on shares of Visa in a research report on Friday, January 31st. Susquehanna lifted their price objective on Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. Bank of America lifted their price objective on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Stock Up 1.5 %

Shares of Visa stock opened at $339.92 on Thursday. The company has a fifty day moving average price of $339.38 and a 200 day moving average price of $312.21. 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 Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The stock has a market cap of $631.50 billion, a price-to-earnings ratio of 34.27, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95.

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

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.69%. Visa’s dividend payout ratio is currently 23.79%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the sale, the chief executive officer now owns 537 shares in the company, valued at approximately $194,931. This represents a 94.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the sale, the chief accounting officer now owns 4,488 shares in the company, valued at approximately $1,569,094.56. This trade represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,855 shares of company stock worth $35,165,827 in the last quarter. 0.13% of the stock is owned by corporate insiders.

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.