Coastal Bridge Advisors LLC Sells 35 Shares of Visa Inc. (NYSE:V)

Coastal Bridge Advisors LLC lowered its position in shares of Visa Inc. (NYSE:V) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,783 shares of the credit-card processor’s stock after selling 35 shares during the quarter. Coastal Bridge Advisors LLC’s holdings in Visa were worth $1,195,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after purchasing an additional 7,079,706 shares in the last quarter. Geode Capital Management LLC lifted its position in Visa by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock valued at $12,729,901,000 after acquiring an additional 1,689,926 shares in the last quarter. Capital International Investors boosted its stake in Visa by 3.8% in the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock worth $7,526,660,000 after purchasing an additional 866,596 shares during the period. Capital World Investors raised its stake in shares of Visa by 1.0% in the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock valued at $7,356,614,000 after purchasing an additional 241,057 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock valued at $5,771,116,000 after purchasing an additional 2,785,707 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Trading Up 0.6 %

Shares of Visa stock opened at $349.83 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54. The stock has a 50 day moving average price of $337.15 and a two-hundred day moving average price of $325.80. The stock has a market capitalization of $649.91 billion, a PE ratio of 35.27, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.51 earnings per share. As a group, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. Visa’s dividend payout ratio (DPR) is currently 23.72%.

Insiders Place Their Bets

In other Visa news, CAO Peter M. Andreski sold 2,332 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the transaction, the chief accounting officer now owns 4,488 shares of the company’s stock, valued at approximately $1,569,094.56. The trade was a 34.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on 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 directly owns 537 shares of the company’s stock, valued at approximately $194,931. This represents a 94.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,208 shares of company stock valued at $48,905,978. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on V. Wells Fargo & Company lifted their price target on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Oppenheimer restated an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Raymond James reiterated an “outperform” rating and set a $393.00 price objective (up previously from $374.00) on shares of Visa in a research note on Friday, January 31st. BMO Capital Markets boosted their target price on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Finally, Piper Sandler upped their price target on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $362.38.

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.