Visa Inc. (NYSE:V) is Eastover Investment Advisors LLC’s 9th Largest Position

Eastover Investment Advisors LLC trimmed its position in Visa Inc. (NYSE:V) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,591 shares of the credit-card processor’s stock after selling 589 shares during the period. Visa makes up about 3.5% of Eastover Investment Advisors LLC’s holdings, making the stock its 9th biggest position. Eastover Investment Advisors LLC’s holdings in Visa were worth $7,456,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Peterson Financial Group Inc. purchased a new stake in shares of Visa in the third quarter valued at approximately $26,000. Reston Wealth Management LLC acquired a new stake in Visa in the third quarter valued at $31,000. Modus Advisors LLC purchased a new stake in shares of Visa during the 4th quarter worth $32,000. Fairway Wealth LLC purchased a new stake in shares of Visa during the 2nd quarter worth $39,000. Finally, West Financial Advisors LLC grew its stake in shares of Visa by 101.4% during the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock worth $40,000 after purchasing an additional 73 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

V has been the subject of several recent analyst reports. TD Cowen boosted their price objective on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Susquehanna boosted their price target on Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a research note on Wednesday, December 11th. Oppenheimer raised 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. Keefe, Bruyette & Woods upped their target price on Visa from $335.00 to $360.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Royal Bank of Canada lifted their price target on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $330.85.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Down 1.6 %

Shares of V opened at $307.71 on Monday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $321.61. The company’s fifty day moving average is $312.14 and its two-hundred day moving average is $287.04. The firm has a market cap of $573.23 billion, a PE ratio of 31.62, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The firm 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%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.33 earnings per share. Analysts forecast that Visa Inc. will post 11.23 earnings per share 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. 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 yield of 0.77%. Visa’s dividend payout ratio (DPR) is presently 24.25%.

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.