Visa Inc. (NYSE:V) Position Cut by Formidable Asset Management LLC

Formidable Asset Management LLC trimmed its stake in Visa Inc. (NYSE:V) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,576 shares of the credit-card processor’s stock after selling 58 shares during the quarter. Visa accounts for approximately 0.7% of Formidable Asset Management LLC’s holdings, making the stock its 27th biggest holding. Formidable Asset Management LLC’s holdings in Visa were worth $3,975,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Pinney & Scofield Inc. bought a new stake in Visa in the fourth quarter valued at $181,000. Parr Mcknight Wealth Management Group LLC bought a new stake in Visa in the fourth quarter valued at $1,732,000. WCG Wealth Advisors LLC lifted its stake in Visa by 2.8% in the fourth quarter. WCG Wealth Advisors LLC now owns 35,949 shares of the credit-card processor’s stock valued at $11,361,000 after buying an additional 986 shares during the last quarter. Investment Management Corp VA ADV acquired a new position in shares of Visa during the fourth quarter valued at $388,000. Finally, Helium Advisors LLC bought a new stake in shares of Visa during the fourth quarter valued at about $2,655,000. 82.15% of the stock is currently owned by institutional investors.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 14,813 shares of Visa stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $355.04, for a total value of $5,259,207.52. Following the sale, the insider now owns 26,413 shares of the company’s stock, valued at approximately $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. Insiders sold 121,948 shares of company stock worth $41,548,282 in the last quarter. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent analyst reports. Bank of America lifted their price objective 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. Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Citigroup restated a “neutral” rating on shares of Visa in a research note on Thursday, February 13th. The Goldman Sachs Group lifted their price objective on shares of Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Six equities research 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 stock. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus price target of $362.38.

Visa Trading Down 1.1%

NYSE:V opened at $354.04 on Friday. 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 1-year low of $252.70 and a 1-year high of $369.15. The firm has a market capitalization of $653.27 billion, a price-to-earnings ratio of 35.69, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. The stock has a fifty day simple moving average of $341.47 and a 200 day simple moving average of $331.75.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the company posted $2.51 EPS. Visa’s revenue for the quarter was up 9.3% on a year-over-year basis. Sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa’s dividend payout ratio (DPR) is 23.72%.

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.