Glen Eagle Advisors LLC Sells 851 Shares of Visa Inc. (NYSE:V)

Glen Eagle Advisors LLC cut its holdings in Visa Inc. (NYSE:V) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,415 shares of the credit-card processor’s stock after selling 851 shares during the quarter. Visa accounts for approximately 1.5% of Glen Eagle Advisors LLC’s holdings, making the stock its 15th largest position. Glen Eagle Advisors LLC’s holdings in Visa were worth $8,980,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa during the 4th quarter valued at $27,000. POM Investment Strategies LLC raised its holdings in Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after acquiring an additional 32 shares during the period. Compass Planning Associates Inc purchased a new position in shares of Visa in the fourth quarter valued at about $32,000. NewSquare Capital LLC bought a new position in shares of Visa in the fourth quarter worth about $35,000. Finally, FPC Investment Advisory Inc. grew its position 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 worth $36,000 after purchasing an additional 83 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Down 0.3%

Shares of Visa stock opened at $366.96 on Wednesday. The firm’s 50 day moving average price is $340.06 and its 200-day moving average price is $330.68. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $369.15. The company has a market cap of $677.10 billion, a P/E ratio of 36.99, a PEG ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the previous year, the firm earned $2.51 EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.64%. The ex-dividend date is Tuesday, May 13th. Visa’s dividend payout ratio is presently 23.72%.

Analyst Upgrades and Downgrades

V has been the subject of a number of research analyst reports. Macquarie cut their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. UBS Group cut their target price 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. Bank of America raised 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. William Blair reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Finally, Evercore ISI assumed coverage on shares of Visa in a research note on Wednesday, April 9th. They set an “in-line” rating and a $330.00 target price for the company. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $362.38.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the completion of the transaction, the chief executive officer now directly owns 537 shares in the company, valued at $188,186.28. The trade was a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 14,813 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the transaction, the insider now owns 26,413 shares of the company’s stock, valued at $9,377,671.52. This represents a 35.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 121,948 shares of company stock valued at $41,548,282. Insiders own 0.13% of the company’s stock.

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.