Visa Inc. (NYSE:V) Shares Sold by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co trimmed its holdings in Visa Inc. (NYSE:V) by 11.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 51,766 shares of the credit-card processor’s stock after selling 6,400 shares during the period. Visa makes up 1.0% of Pine Valley Investments Ltd Liability Co’s portfolio, making the stock its 15th biggest holding. Pine Valley Investments Ltd Liability Co’s holdings in Visa were worth $16,360,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC raised its position in shares of Visa by 3.3% in the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock valued at $297,000 after purchasing an additional 30 shares during the period. Warther Private Wealth LLC grew its stake in Visa by 1.0% in the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after buying an additional 30 shares during the last quarter. Valmark Advisers Inc. raised its holdings in Visa by 0.4% in the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock worth $2,292,000 after acquiring an additional 30 shares during the period. Crescent Grove Advisors LLC lifted its position in Visa by 2.2% during the 4th quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock worth $454,000 after acquiring an additional 31 shares during the last quarter. Finally, Vicus Capital boosted its holdings in Visa by 3.1% during the fourth quarter. Vicus Capital now owns 1,032 shares of the credit-card processor’s stock valued at $326,000 after acquiring an additional 31 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Macquarie lifted their price objective on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Robert W. Baird lifted their price target on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price objective on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Susquehanna raised their price objective on shares of Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Finally, Bank of America upped their target price on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Insider Activity at Visa

In related news, 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 transaction of $11,801,589.57. Following the completion of the sale, the insider now directly owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This trade represents a 47.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the sale, the general counsel now directly owns 11,925 shares of the company’s stock, valued at $4,054,500. This represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,885 shares of company stock valued at $19,161,447 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Visa Price Performance

Visa stock opened at $350.61 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $651.36 billion, a PE ratio of 35.34, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. Visa Inc. has a one year low of $252.70 and a one year high of $357.15. The business has a 50 day simple moving average of $331.31 and a 200 day simple moving average of $304.27.

Visa (NYSE:V) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 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, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. Visa’s dividend payout ratio is 23.79%.

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.