Investmark Advisory Group LLC Reduces Stake in Visa Inc. (NYSE:V)

Investmark Advisory Group LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 23.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,894 shares of the credit-card processor’s stock after selling 592 shares during the quarter. Investmark Advisory Group LLC’s holdings in Visa were worth $599,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research analysts have issued reports on V shares. Citigroup reissued a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Piper Sandler upped their price objective on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Finally, Bank of America boosted their target price on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $362.38.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel now owns 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated 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 trade represents a 94.14% decrease in their position. 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 three months. Company insiders own 0.13% of the company’s stock.

Visa Trading Down 2.2%

Shares of V opened at $358.59 on Thursday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $369.15. The company has a market capitalization of $661.66 billion, a PE ratio of 36.15, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. The stock has a fifty day moving average of $340.60 and a two-hundred day moving average of $330.88. 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 (NYSE:V) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the previous year, the business earned $2.51 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa’s dividend payout ratio is currently 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.