Shell Asset Management Co. Sells 773 Shares of Visa Inc. (NYSE:V)

Shell Asset Management Co. reduced its stake in Visa Inc. (NYSE:V) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 96,909 shares of the credit-card processor’s stock after selling 773 shares during the quarter. Visa accounts for 1.3% of Shell Asset Management Co.’s investment portfolio, making the stock its 10th largest position. Shell Asset Management Co.’s holdings in Visa were worth $30,627,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in V. Silvercrest Asset Management Group LLC lifted its holdings in Visa by 14.4% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 164,443 shares of the credit-card processor’s stock worth $51,970,000 after buying an additional 20,723 shares in the last quarter. Sora Investors LLC raised its stake in Visa by 5.0% during the 4th quarter. Sora Investors LLC now owns 84,017 shares of the credit-card processor’s stock worth $26,553,000 after acquiring an additional 4,017 shares in the last quarter. Rafferty Asset Management LLC raised its stake in Visa by 7.7% during the 4th quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor’s stock worth $192,948,000 after acquiring an additional 43,546 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in Visa during the 4th quarter worth $137,157,000. Finally, Redwood Investment Management LLC raised its stake in Visa by 0.6% during the 4th quarter. Redwood Investment Management LLC now owns 7,636 shares of the credit-card processor’s stock worth $2,413,000 after acquiring an additional 43 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $363.00, for a total value of $3,129,060.00. Following the completion of the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $194,931. This represents a 94.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $8,642,333.60. This trade represents a 59.84% 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 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Up 1.5%

V opened at $361.87 on Friday. The firm’s 50-day simple moving average is $337.92 and its 200-day simple moving average is $328.77. 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 twelve month low of $252.70 and a twelve month high of $366.54. The firm has a market cap of $672.27 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V) last posted its earnings results 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. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the firm earned $2.51 EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.65%. Visa’s dividend payout ratio (DPR) is 23.72%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Bank of America upped their target price on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Piper Sandler upped their price target on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a report on Thursday, February 13th. Finally, Evercore ISI started coverage on shares of Visa in a research note on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price objective on the stock. Six research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average target price of $362.38.

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.