Terra Nova Asset Management LLC Sells 405 Shares of Visa Inc. (NYSE:V)

Terra Nova Asset Management LLC decreased its holdings in Visa Inc. (NYSE:V) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,783 shares of the credit-card processor’s stock after selling 405 shares during the period. Visa comprises approximately 2.0% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 17th biggest holding. Terra Nova Asset Management LLC’s holdings in Visa were worth $2,287,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in V. Moneta Group Investment Advisors LLC grew its position in shares of Visa by 116,608.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock valued at $5,090,978,000 after purchasing an additional 24,483,134 shares during the last quarter. Norges Bank acquired a new stake in Visa during the fourth quarter worth approximately $3,067,232,000. Morgan Stanley grew its position in Visa by 13.0% during the fourth quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock worth $10,621,287,000 after buying an additional 5,864,340 shares in the last quarter. State Street Corp grew its position in Visa by 3.7% during the first quarter. State Street Corp now owns 72,897,112 shares of the credit-card processor’s stock worth $16,435,339,000 after buying an additional 2,572,159 shares in the last quarter. Finally, FMR LLC grew its position in Visa by 4.7% during the third quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock worth $11,582,785,000 after buying an additional 2,257,605 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $273.39, for a total transaction of $2,228,128.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $273.39, for a total transaction of $2,228,128.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the transaction, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The disclosure for this sale can be found here. Insiders sold 47,311 shares of company stock valued at $12,832,129 over the last three months. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on V. Wedbush increased their price target on Visa from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Keefe, Bruyette & Woods increased their price target on Visa from $305.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Wells Fargo & Company raised their target price on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Citigroup raised their target price on Visa from $296.00 to $306.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Finally, Barclays increased their price target on Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $295.82.

Visa Price Performance

NYSE:V traded down $0.24 during midday trading on Thursday, hitting $278.78. The company had a trading volume of 5,844,191 shares, compared to its average volume of 5,650,746. Visa Inc. has a 52-week low of $216.14 and a 52-week high of $290.96. The stock’s fifty day moving average price is $279.11 and its 200-day moving average price is $258.66. The company has a market capitalization of $511.98 billion, a PE ratio of 32.16, a P/E/G ratio of 1.94 and a beta of 0.96. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last announced its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.07. Visa had a net margin of 53.92% and a return on equity of 50.02%. The company had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.55 billion. During the same period in the previous year, the business earned $2.18 earnings per share. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, research analysts expect that Visa Inc. will post 9.89 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date was Thursday, February 8th. Visa’s dividend payout ratio is presently 23.94%.

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.