Visa Inc. (NYSE:V) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. decreased its position in Visa Inc. (NYSE:V) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,291 shares of the credit-card processor’s stock after selling 40 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Visa were worth $1,898,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of V. FMR LLC grew its holdings in shares of Visa by 4.7% in the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock worth $11,582,785,000 after acquiring an additional 2,257,605 shares during the last quarter. Northern Trust Corp boosted its position in shares of Visa by 4.7% in the 3rd quarter. Northern Trust Corp now owns 17,073,700 shares of the credit-card processor’s stock valued at $3,927,122,000 after purchasing an additional 763,505 shares during the period. Ameriprise Financial Inc. increased its stake in Visa by 2.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock worth $3,272,846,000 after purchasing an additional 374,489 shares in the last quarter. Jennison Associates LLC lifted its stake in Visa by 0.7% during the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after buying an additional 85,123 shares in the last quarter. Finally, Brown Advisory Inc. boosted its holdings in shares of Visa by 1.5% in the third quarter. Brown Advisory Inc. now owns 7,542,434 shares of the credit-card processor’s stock worth $1,734,835,000 after buying an additional 108,280 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of a number of research reports. Royal Bank of Canada upped their target price on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Oppenheimer increased their target price on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Citigroup upped their price target on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Evercore ISI lifted their price objective on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Finally, TD Cowen started coverage on Visa in a research report on Thursday, April 11th. They issued a “buy” rating and a $320.00 target price on the stock. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $302.58.

Insider Activity

In related news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The disclosure for this sale can be found here. Insiders sold a total of 19,874 shares of company stock valued at $5,506,827 in the last ninety days. 0.19% of the stock is owned by insiders.

Visa Price Performance

Visa stock traded down $3.23 on Tuesday, reaching $268.61. The company’s stock had a trading volume of 6,319,837 shares, compared to its average volume of 5,935,189. Visa Inc. has a twelve month low of $216.14 and a twelve month high of $290.96. The company has a market cap of $493.30 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 1.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The business’s fifty day moving average price is $279.11 and its 200 day moving average price is $264.97.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.08. The business had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.09 earnings per share. Equities analysts expect that Visa Inc. will post 9.89 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.77%. Visa’s payout ratio is currently 23.24%.

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.