Latitude Advisors LLC Trims Holdings in Visa Inc. (NYSE:V)

Latitude Advisors LLC decreased its stake in shares of Visa Inc. (NYSE:V) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,098 shares of the credit-card processor’s stock after selling 42 shares during the quarter. Latitude Advisors LLC’s holdings in Visa were worth $979,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in V. Wesbanco Bank Inc. increased its stake in Visa by 1.4% during the third quarter. Wesbanco Bank Inc. now owns 8,367 shares of the credit-card processor’s stock worth $2,301,000 after acquiring an additional 114 shares during the last quarter. Creative Planning increased its stake in Visa by 2.4% during the third quarter. Creative Planning now owns 566,729 shares of the credit-card processor’s stock worth $155,822,000 after acquiring an additional 13,318 shares during the last quarter. Swedbank AB increased its stake in Visa by 10.7% during the third quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock worth $566,153,000 after acquiring an additional 199,440 shares during the last quarter. Prospect Financial Services LLC acquired a new stake in shares of Visa in the third quarter valued at $357,000. Finally, Petredis Investment Advisors LLC grew its stake in shares of Visa by 0.3% in the third quarter. Petredis Investment Advisors LLC now owns 22,219 shares of the credit-card processor’s stock valued at $6,109,000 after buying an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Macquarie lifted their price objective on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. William Blair reaffirmed an “outperform” rating on shares of Visa in a research note on Friday, January 31st. Susquehanna lifted their price objective on Visa from $375.00 to $395.00 and gave the company a “positive” rating in a research note on Friday, January 31st. TD Cowen lifted their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $354.73.

Visa Stock Up 0.2 %

Visa stock opened at $351.43 on Thursday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $352.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.28 and a current ratio of 1.12. The company has a market capitalization of $652.88 billion, a P/E ratio of 35.43, a PEG ratio of 2.32 and a beta of 0.97. The stock has a 50-day simple moving average of $322.53 and a 200-day simple moving average of $297.52.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts expect that Visa Inc. will post 11.27 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced 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. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date is Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Insiders Place Their Bets

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the transaction, the insider now owns 36,566 shares in the company, valued at approximately $12,789,689.82. The trade was a 47.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the business’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 transaction, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,056 shares of company stock worth $19,830,050. Company insiders own 0.13% of the company’s stock.

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.