Diamant Asset Management Inc. Sells 328 Shares of Visa Inc. (NYSE:V)

Diamant Asset Management Inc. cut its stake in Visa Inc. (NYSE:V) by 1.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 31,663 shares of the credit-card processor’s stock after selling 328 shares during the quarter. Visa makes up about 6.4% of Diamant Asset Management Inc.’s holdings, making the stock its 3rd biggest holding. Diamant Asset Management Inc.’s holdings in Visa were worth $10,007,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of V. International Assets Investment Management LLC raised its stake in shares of Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after acquiring an additional 9,736,958 shares during the last quarter. SG Americas Securities LLC raised its position in Visa by 4,412.3% in the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after purchasing an additional 4,166,905 shares during the last quarter. State Street Corp boosted its stake in Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares in the last quarter. FMR LLC grew its holdings in shares of Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after purchasing an additional 3,265,518 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after buying an additional 2,772,549 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Keefe, Bruyette & Woods raised their price target on shares of Visa from $335.00 to $360.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upped their price objective on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird lifted their target price on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price target on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $335.52.

Visa Stock Performance

Shares of V opened at $343.26 on Friday. The firm’s 50 day moving average price is $316.43 and its two-hundred day moving average price is $292.09. 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 twelve month low of $252.70 and a twelve month high of $344.44. The firm has a market cap of $639.46 billion, a P/E ratio of 35.28, a PEG ratio of 2.17 and a beta of 0.96.

Visa (NYSE:V) last released its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 53.16% and a net margin of 54.96%. On average, analysts forecast that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.69%. Visa’s payout ratio is 24.25%.

Visa Company 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.