Northeast Financial Group Inc. reduced its position in shares of Visa Inc. (NYSE:V - Free Report) by 64.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,908 shares of the credit-card processor's stock after selling 5,330 shares during the period. Northeast Financial Group Inc.'s holdings in Visa were worth $919,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in V. Crescent Grove Advisors LLC lifted its holdings in Visa by 2.2% during the 4th quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor's stock worth $454,000 after buying an additional 31 shares in the last quarter. Phoenix Wealth Advisors raised its position in shares of Visa by 3.4% during the fourth quarter. Phoenix Wealth Advisors now owns 964 shares of the credit-card processor's stock worth $305,000 after acquiring an additional 32 shares during the last quarter. Unionview LLC lifted its stake in shares of Visa by 1.5% during the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor's stock valued at $631,000 after acquiring an additional 33 shares during the period. Forza Wealth Management LLC lifted its stake in shares of Visa by 2.9% during the fourth quarter. Forza Wealth Management LLC now owns 1,164 shares of the credit-card processor's stock valued at $368,000 after acquiring an additional 33 shares during the period. Finally, Presilium Private Wealth LLC boosted its holdings in Visa by 2.2% in the fourth quarter. Presilium Private Wealth LLC now owns 1,503 shares of the credit-card processor's stock valued at $475,000 after acquiring an additional 33 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.
Several brokerages have weighed in on V. The Goldman Sachs Group boosted their price objective on Visa from $346.00 to $384.00 and gave the stock a "buy" rating in a report on Friday. Seaport Res Ptn raised shares of Visa from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Morgan Stanley raised their price objective on shares of Visa from $326.00 to $371.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Raymond James reiterated an "outperform" rating and set a $393.00 target price (up previously from $374.00) on shares of Visa in a research report on Friday. Finally, Oppenheimer raised their price target on Visa from $375.00 to $390.00 and gave the stock an "outperform" rating in a research report on Friday. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $352.27.
Get Our Latest Stock Analysis on V
NYSE:V opened at $342.05 on Friday. The company has a market cap of $637.19 billion, a PE ratio of 35.15, a PEG ratio of 2.27 and a beta of 0.96. The stock has a 50-day simple moving average of $317.74 and a 200 day simple moving average of $292.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $351.25.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.96% and a return on equity of 53.16%. On average, sell-side analysts expect that Visa Inc. will post 11.18 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.69%. Visa's dividend payout ratio (DPR) is presently 24.25%.
In related news, insider Paul D. Fabara sold 2,171 shares of the firm's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company's stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.
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.
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