Nexus Investment Management ULC Sells 1,195 Shares of Visa Inc. (NYSE:V)

Nexus Investment Management ULC decreased its holdings in Visa Inc. (NYSE:VFree Report) by 2.1% during the 4th quarter, HoldingsChannel reports. The firm owned 55,176 shares of the credit-card processor’s stock after selling 1,195 shares during the quarter. Visa comprises approximately 1.7% of Nexus Investment Management ULC’s holdings, making the stock its 29th largest position. Nexus Investment Management ULC’s holdings in Visa were worth $17,438,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of V. Peterson Financial Group Inc. bought a new stake in shares of Visa during the third quarter worth $26,000. Decker Retirement Planning Inc. acquired a new stake in shares of Visa during the 4th quarter valued at $26,000. Reston Wealth Management LLC bought a new stake in Visa during the 3rd quarter worth $31,000. Modus Advisors LLC acquired a new position in Visa in the 4th quarter worth about $32,000. Finally, West Financial Advisors LLC raised its position in Visa by 101.4% in the third quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock valued at $40,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction 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 sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This trade 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.

Visa Price Performance

Shares of NYSE V opened at $319.97 on Monday. The stock has a market cap of $596.06 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 2.06 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $321.61. The firm’s 50-day simple moving average is $313.41 and its 200 day simple moving average is $288.59.

Visa (NYSE:VGet Free Report) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. The company 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%. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.33 earnings per share. As a group, research analysts anticipate that Visa Inc. will post 11.22 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid 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 dividend yield of 0.74%. Visa’s dividend payout ratio is presently 24.25%.

Analysts Set New Price Targets

V has been the subject of several recent research reports. Oppenheimer upped 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. Wells Fargo & Company raised their price target on shares of Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Jefferies Financial Group boosted their price objective 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. Mizuho raised their target price on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Citigroup upped their price target on Visa from $326.00 to $354.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $331.92.

Check Out Our Latest Analysis on Visa

Visa Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:VFree Report).

Institutional Ownership by Quarter for Visa (NYSE:V)

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