Element Wealth LLC Reduces Position in Visa Inc. (NYSE:V)

Element Wealth LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,540 shares of the credit-card processor’s stock after selling 133 shares during the quarter. Element Wealth LLC’s holdings in Visa were worth $401,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Trust Co of Kansas grew its stake in Visa by 38.2% in the fourth quarter. Trust Co of Kansas now owns 18,802 shares of the credit-card processor’s stock worth $4,895,000 after purchasing an additional 5,194 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its stake in Visa by 25.9% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 10,372 shares of the credit-card processor’s stock valued at $2,700,000 after acquiring an additional 2,135 shares during the period. Masso Torrence Wealth Management Inc. boosted its stake in Visa by 8.0% in the fourth quarter. Masso Torrence Wealth Management Inc. now owns 3,512 shares of the credit-card processor’s stock valued at $914,000 after acquiring an additional 261 shares during the period. Lorne Steinberg Wealth Management Inc. boosted its stake in Visa by 1.0% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 28,395 shares of the credit-card processor’s stock valued at $7,393,000 after acquiring an additional 276 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake in Visa by 13.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 12,529 shares of the credit-card processor’s stock valued at $3,262,000 after acquiring an additional 1,476 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wells Fargo & Company lifted their target price on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Wedbush lifted their price target on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday. Royal Bank of Canada lifted their price target on Visa from $290.00 to $309.00 and gave the company an “outperform” rating in a report on Friday, January 26th. UBS Group lifted their price target on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday. Finally, KeyCorp boosted their target price on Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, January 8th. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average price target of $302.43.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the sale, the chief accounting officer now directly owns 4,898 shares in the company, valued at $1,365,954.24. The disclosure for this sale can be found here. Insiders have sold a total of 18,965 shares of company stock valued at $5,256,352 over the last quarter. 0.19% of the stock is owned by company insiders.

Visa Stock Performance

Shares of V traded up $2.25 during trading hours on Wednesday, reaching $276.36. 4,181,242 shares of the company traded hands, compared to its average volume of 5,853,114. The stock’s fifty day moving average is $279.49 and its 200 day moving average is $263.90. The stock has a market cap of $507.54 billion, a P/E ratio of 31.86, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96. 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 Inc. has a 1-year low of $216.14 and a 1-year high of $290.96.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The business had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.92% and a return on equity of 50.02%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.09 earnings per share. Equities research analysts anticipate that Visa Inc. will post 9.88 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s payout ratio is currently 23.94%.

Visa 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.