Visa Inc. $V Shares Sold by Northeast Investment Management

Northeast Investment Management lessened its position in shares of Visa Inc. (NYSE:V) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 244,635 shares of the credit-card processor’s stock after selling 3,144 shares during the quarter. Visa accounts for 3.4% of Northeast Investment Management’s portfolio, making the stock its 7th largest position. Northeast Investment Management’s holdings in Visa were worth $83,513,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Sonoma Allocations LLC acquired a new stake in shares of Visa in the third quarter worth approximately $710,000. AQR Capital Management LLC boosted its stake in Visa by 1.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock worth $438,196,000 after purchasing an additional 21,401 shares during the last quarter. Baltimore Washington Financial Advisors Inc. grew its holdings in shares of Visa by 5.9% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock worth $33,783,000 after buying an additional 5,295 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of Visa by 2.6% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 574,043 shares of the credit-card processor’s stock valued at $198,596,000 after buying an additional 14,581 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Visa by 24.1% in the third quarter. Federated Hermes Inc. now owns 823,262 shares of the credit-card processor’s stock valued at $281,045,000 after buying an additional 159,906 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the sale, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. The trade was a 52.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the completion of the transaction, the insider owned 26,413 shares in the company, valued at approximately $8,608,789.09. This represents a 7.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.12% of the company’s stock.

Visa Trading Up 1.6%

Shares of Visa stock opened at $319.14 on Wednesday. The stock has a 50 day moving average of $337.60 and a 200 day moving average of $339.37. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $579.29 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 1.80 and a beta of 0.79. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51.

Visa (NYSE:V) last posted its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The company had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the previous year, the business earned $2.75 earnings per share. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be given a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s dividend payout ratio is presently 25.14%.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent research reports. Citigroup upgraded shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. UBS Group restated a “buy” rating on shares of Visa in a report on Tuesday, January 13th. Raymond James Financial reaffirmed an “outperform” rating and issued a $408.00 price target (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. Morgan Stanley reissued an “overweight” rating and set a $411.00 price objective (up previously from $398.00) on shares of Visa in a research note on Friday, January 30th. Finally, Macquarie Infrastructure restated an “outperform” rating and issued a $410.00 target price on shares of Visa in a report on Friday, January 30th. Six investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $392.21.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.