Rockefeller Capital Management L.P. Decreases Stake in Visa Inc. (NYSE:V)

Rockefeller Capital Management L.P. trimmed its holdings in shares of Visa Inc. (NYSE:V) by 6.2% during the fourth quarter, Holdings Channel reports. The fund owned 1,103,399 shares of the credit-card processor’s stock after selling 73,490 shares during the quarter. Visa accounts for 0.9% of Rockefeller Capital Management L.P.’s investment portfolio, making the stock its 15th largest holding. Rockefeller Capital Management L.P.’s holdings in Visa were worth $348,584,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of V. Norges Bank acquired a new stake in shares of Visa in the 4th quarter valued at about $5,171,271,000. Vanguard Group Inc. increased its holdings in Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after buying an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Visa during the fourth quarter valued at approximately $1,955,403,000. Proficio Capital Partners LLC lifted its holdings in Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after buying an additional 3,926,049 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Visa by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock worth $12,729,901,000 after acquiring an additional 1,689,926 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the sale, the insider now owns 26,413 shares in the company, valued at approximately $8,642,333.60. This represents a 59.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $188,186.28. The trade was a 94.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,205 shares of company stock valued at $48,842,490 over the last ninety days. Insiders own 0.13% of the company’s stock.

Visa Price Performance

Shares of NYSE:V opened at $333.69 on Friday. The stock has a market cap of $619.91 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.33 and a beta of 0.94. 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 Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The stock’s 50 day moving average price is $342.40 and its 200 day moving average price is $318.76.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share 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 anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. Visa’s payout ratio is currently 23.79%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on V. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Oppenheimer restated an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Evercore ISI began coverage on shares of Visa in a research report on Wednesday. They set an “in-line” rating and a $330.00 price objective for the company. Raymond James reissued an “outperform” rating and issued a $393.00 target price (up previously from $374.00) on shares of Visa in a report on Friday, January 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $383.00 target price (up from $368.00) on shares of Visa in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average price target of $355.84.

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.