Logan Capital Management Inc. Lowers Position in Visa Inc. (NYSE:V)

Logan Capital Management Inc. cut its stake in shares of Visa Inc. (NYSE:V) by 21.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,730 shares of the credit-card processor’s stock after selling 10,307 shares during the quarter. Logan Capital Management Inc.’s holdings in Visa were worth $11,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of V. Decker Retirement Planning Inc. bought a new stake in Visa during the 4th quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in Visa during the 4th quarter valued at approximately $27,000. POM Investment Strategies LLC lifted its holdings in Visa by 48.5% in the 4th 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 during the period. Compass Planning Associates Inc bought a new position in shares of Visa during the fourth quarter valued at approximately $32,000. Finally, FPC Investment Advisory Inc. lifted its holdings in shares of Visa by 377.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after purchasing an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.5%

NYSE V opened at $352.95 on Monday. The stock has a 50 day moving average price of $336.98 and a 200-day moving average price of $327.32. Visa Inc. has a one year low of $252.70 and a one year high of $366.54. The company has a market capitalization of $655.70 billion, a P/E ratio of 35.58, a P/E/G ratio of 2.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter last year, the firm earned $2.51 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, equities analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Insider Buying and Selling at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 39,350 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 26,413 shares in the company, valued at approximately $8,642,333.60. The trade was a 59.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,948 shares of company stock worth $41,548,282 over the last quarter. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on V shares. JPMorgan Chase & Co. raised their price objective on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Piper Sandler lifted their price target on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Barclays upped their price target on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. UBS Group reduced their price target on shares of Visa from $400.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Finally, BMO Capital Markets lifted their target price on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $362.38.

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.