Logan Capital Management Inc. Lowers Stock Position in Visa Inc. (NYSE:V)

Logan Capital Management Inc. decreased its holdings in Visa Inc. (NYSE:V) by 21.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 37,730 shares of the credit-card processor’s stock after selling 10,307 shares during the quarter. Logan Capital Management Inc.’s holdings in Visa were worth $11,924,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Decker Retirement Planning Inc. purchased a new stake in Visa during the 4th quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Visa during the fourth quarter worth $27,000. POM Investment Strategies LLC boosted its stake in Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after buying an additional 32 shares during the last quarter. Compass Planning Associates Inc purchased a new stake in Visa in the 4th quarter valued at $32,000. Finally, NewSquare Capital LLC acquired a new stake in shares of Visa in the 4th quarter worth $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the sale, the chief executive officer now owns 537 shares in the company, valued at $194,931. This represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares of the company’s stock, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,948 shares of company stock worth $41,548,282 over the last three months. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Bank of America upped their price objective on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Piper Sandler increased their price target on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Susquehanna restated a “positive” rating on shares of Visa in a report on Friday, March 21st. UBS Group decreased their price objective on Visa from $400.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Finally, Oppenheimer reissued an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $362.38.

Visa Trading Up 0.5%

NYSE:V opened at $352.95 on Monday. The company has a market capitalization of $655.70 billion, a P/E ratio of 35.58, a P/E/G ratio of 2.33 and a beta of 0.96. The stock’s 50 day moving average price is $336.98 and its 200 day moving average price is $327.32. 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.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the previous year, the firm posted $2.51 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa’s payout ratio is 23.72%.

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.