Everence Capital Management Inc. Has $11.40 Million Stock Position in Visa Inc. (NYSE:V)

Everence Capital Management Inc. cut its holdings in Visa Inc. (NYSE:V) by 8.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,773 shares of the credit-card processor’s stock after selling 4,120 shares during the period. Visa comprises approximately 0.8% of Everence Capital Management Inc.’s investment portfolio, making the stock its 20th biggest holding. Everence Capital Management Inc.’s holdings in Visa were worth $11,396,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hibernia Wealth Partners LLC acquired a new position in Visa during the third quarter worth $25,000. Altshuler Shaham Ltd acquired a new position in Visa during the third quarter worth $25,000. O Brien Wealth Partners LLC bought a new position in Visa during the fourth quarter worth $32,000. Financial Freedom LLC bought a new position in Visa during the fourth quarter worth $32,000. Finally, Nalls Sherbakoff Group LLC boosted its position in Visa by 545.5% during the third quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock worth $33,000 after purchasing an additional 120 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Rajat Taneja sold 36,546 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $270.20, for a total value of $9,874,729.20. Following the completion of the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rajat Taneja sold 36,546 shares of the firm’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $270.20, for a total value of $9,874,729.20. Following the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at $62,716,662.40. The disclosure for this sale can be found here. Insiders have sold a total of 55,511 shares of company stock worth $15,131,081 in the last ninety days. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on shares of Visa from $305.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Citigroup upped their price objective on shares of Visa from $296.00 to $306.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Royal Bank of Canada upped their price objective on shares of Visa from $290.00 to $309.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Wells Fargo & Company upped their price objective on shares of Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Finally, TD Cowen started coverage on Visa in a research note on Thursday, April 11th. They set a “buy” rating and a $320.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $298.43.

Visa Price Performance

Visa stock opened at $272.69 on Thursday. The stock has a market capitalization of $500.80 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 1.87 and a beta of 0.96. Visa Inc. has a 52-week low of $216.14 and a 52-week high of $290.96. The stock’s 50 day moving average price is $279.80 and its two-hundred day moving average price is $262.56. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.45 and a current ratio of 1.45.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. The firm had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.55 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.18 EPS. On average, equities analysts predict that Visa Inc. will post 9.88 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Thursday, February 8th. Visa’s dividend payout ratio is currently 23.94%.

Visa Company Profile

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.