Wealthfront Advisers LLC reduced its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 86.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,286 shares of the credit-card processor's stock after selling 129,630 shares during the quarter. Wealthfront Advisers LLC's holdings in Visa were worth $6,411,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Decker Retirement Planning Inc. acquired a new position in Visa in the 4th quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in Visa in the fourth quarter worth approximately $27,000. Peterson Financial Group Inc. bought a new position in Visa in the third quarter worth approximately $26,000. POM Investment Strategies LLC boosted its holdings in Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock worth $31,000 after acquiring an additional 32 shares in the last quarter. Finally, Modus Advisors LLC purchased a new stake in shares of Visa in the fourth quarter worth approximately $32,000. 82.15% of the stock is currently owned by institutional investors.
In other news, CAO Peter M. Andreski sold 2,332 shares of the firm's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the transaction, the chief accounting officer now directly owns 4,488 shares in the company, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of the firm's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the transaction, the insider now directly owns 36,566 shares in the company, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,505 shares of company stock worth $22,290,507 in the last 90 days. Insiders own 0.13% of the company's stock.
Several brokerages have recently commented on V. Piper Sandler reissued an "overweight" rating and issued a $383.00 price objective (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Oppenheimer reissued an "outperform" rating on shares of Visa in a report on Thursday, February 13th. UBS Group increased their price objective on Visa from $350.00 to $400.00 and gave the company a "buy" rating in a report on Friday, January 31st. Wells Fargo & Company raised their price target on Visa from $360.00 to $395.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, Barclays lifted their price objective on Visa from $361.00 to $396.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $353.96.
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V traded down $4.86 during midday trading on Thursday, reaching $327.98. 7,913,836 shares of the company's stock traded hands, compared to its average volume of 6,447,336. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54. The stock has a market capitalization of $609.32 billion, a price-to-earnings ratio of 33.06, a P/E/G ratio of 2.33 and a beta of 0.95. The firm has a fifty day moving average of $337.62 and a two-hundred day moving average of $310.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.
Visa (NYSE:V - Get Free Report) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were paid a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.72%. Visa's payout ratio is currently 23.79%.
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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