Convergence Investment Partners LLC Sells 958 Shares of Visa Inc. (NYSE:V)

Convergence Investment Partners LLC cut its holdings in shares of Visa Inc. (NYSE:V) by 26.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,725 shares of the credit-card processor’s stock after selling 958 shares during the period. Convergence Investment Partners LLC’s holdings in Visa were worth $709,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Trifecta Capital Advisors LLC increased its holdings in shares of Visa by 2.7% during the third quarter. Trifecta Capital Advisors LLC now owns 20,176 shares of the credit-card processor’s stock worth $4,641,000 after buying an additional 536 shares in the last quarter. RDA Financial Network increased its holdings in Visa by 3.8% in the third quarter. RDA Financial Network now owns 13,716 shares of the credit-card processor’s stock valued at $3,155,000 after purchasing an additional 508 shares during the period. Builder Investment Group Inc. ADV increased its holdings in Visa by 0.7% in the third quarter. Builder Investment Group Inc. ADV now owns 28,753 shares of the credit-card processor’s stock valued at $6,613,000 after purchasing an additional 207 shares during the period. Culbertson A N & Co. Inc. increased its holdings in Visa by 0.4% in the third quarter. Culbertson A N & Co. Inc. now owns 21,627 shares of the credit-card processor’s stock valued at $4,974,000 after purchasing an additional 93 shares during the period. Finally, Spectrum Asset Management Inc. NB CA increased its holdings in Visa by 172.4% in the third quarter. Spectrum Asset Management Inc. NB CA now owns 4,999 shares of the credit-card processor’s stock valued at $1,150,000 after purchasing an additional 3,164 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,874 shares of company stock worth $5,506,827. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of a number of recent research reports. Susquehanna increased their price objective on Visa from $300.00 to $326.00 and gave the company a “positive” rating in a report on Friday, January 26th. Barclays increased their price objective on Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Redburn Atlantic restated a “neutral” rating and issued a $307.00 price objective on shares of Visa in a report on Wednesday, March 27th. William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Wednesday. Finally, Evercore ISI upped their price target on shares of Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $302.58.

Visa Stock Down 0.2 %

NYSE V traded down $0.64 during trading hours on Friday, hitting $274.52. The company’s stock had a trading volume of 6,840,615 shares, compared to its average volume of 6,528,673. Visa Inc. has a 52 week low of $216.14 and a 52 week high of $290.96. The company has a market capitalization of $504.16 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The company has a current ratio of 1.40, a quick ratio of 1.45 and a debt-to-equity ratio of 0.53. The company’s 50-day simple moving average is $279.24 and its two-hundred day simple moving average is $264.52.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter last year, the firm earned $2.09 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be paid a $0.52 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.76%. Visa’s dividend payout ratio (DPR) is 23.24%.

Visa 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.