Palisades Hudson Asset Management L.P. Cuts Stock Holdings in Visa Inc. (NYSE:V)

Palisades Hudson Asset Management L.P. trimmed its position in shares of Visa Inc. (NYSE:V) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,873 shares of the credit-card processor’s stock after selling 49 shares during the period. Palisades Hudson Asset Management L.P.’s holdings in Visa were worth $908,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of V. Peterson Financial Group Inc. bought a new position in shares of Visa during the third quarter valued at about $26,000. Decker Retirement Planning Inc. bought a new position in shares of Visa during the fourth quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Visa during the fourth quarter valued at about $27,000. POM Investment Strategies LLC raised its stake 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 buying an additional 32 shares in the last quarter. Finally, Modus Advisors LLC bought a new position in Visa in the fourth quarter worth about $32,000. 82.15% of the stock is owned by institutional investors.

Visa Trading Down 1.2 %

Shares of V stock opened at $341.07 on Tuesday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm’s 50 day moving average is $336.69 and its 200 day moving average is $309.43. The stock has a market capitalization of $633.63 billion, a P/E ratio of 34.38, a P/E/G ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last issued 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 net margin of 54.27% and a return on equity of 54.79%. Research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio is presently 23.79%.

Insider Transactions at Visa

In other news, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the transaction, the chief accounting officer now owns 4,488 shares in the company, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. 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. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on V. JPMorgan Chase & Co. increased their price target on shares of Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Barclays increased their price target on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Morgan Stanley increased their price target on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Bank of America upped their price objective on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

About Visa

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.