Leisure Capital Management Reduces Position in Visa Inc. (NYSE:V)

Leisure Capital Management trimmed its holdings in shares of Visa Inc. (NYSE:V) by 14.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,577 shares of the credit-card processor’s stock after selling 959 shares during the quarter. Leisure Capital Management’s holdings in Visa were worth $1,452,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of V. Consolidated Planning Corp grew its stake in Visa by 10.3% in the fourth quarter. Consolidated Planning Corp now owns 8,405 shares of the credit-card processor’s stock worth $2,188,000 after purchasing an additional 785 shares in the last quarter. Alliance Wealth Advisors LLC UT grew its stake in Visa by 0.9% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 16,544 shares of the credit-card processor’s stock worth $4,307,000 after purchasing an additional 147 shares in the last quarter. Brio Consultants LLC grew its stake in Visa by 39.1% in the fourth quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock worth $405,000 after purchasing an additional 437 shares in the last quarter. Dohj LLC grew its stake in Visa by 13.9% in the fourth quarter. Dohj LLC now owns 11,765 shares of the credit-card processor’s stock worth $3,063,000 after purchasing an additional 1,436 shares in the last quarter. Finally, Valmark Advisers Inc. grew its stake in Visa by 66.8% in the fourth quarter. Valmark Advisers Inc. now owns 5,075 shares of the credit-card processor’s stock worth $1,321,000 after purchasing an additional 2,032 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on V. Royal Bank of Canada lifted their target price on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research note on Wednesday. Macquarie lifted their target price on Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday. Raymond James boosted their price objective on Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. UBS Group boosted their price objective on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, TD Cowen started coverage on Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective for the company. Five research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $302.58.

Visa Stock Down 0.2 %

Shares of Visa stock traded down $0.64 on Friday, hitting $274.52. 6,840,615 shares of the company traded hands, compared to its average volume of 6,528,673. The company has a 50-day moving average price of $279.24 and a 200 day moving average price of $264.33. The company has a quick ratio of 1.45, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12-month low of $216.14 and a 12-month high of $290.96. The company has a market cap of $504.16 billion, a PE ratio of 30.67, a PEG ratio of 1.89 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. Visa’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.09 earnings per share. Sell-side analysts predict 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 will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Thursday, May 16th. Visa’s dividend payout ratio is currently 23.24%.

Insider Activity

In other news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares in the company, valued at $1,365,954.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,874 shares of company stock valued at $5,506,827. 0.19% of the stock is owned by insiders.

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.