Strategic Financial Services Inc Cuts Stock Position in Visa Inc. (NYSE:V)

Strategic Financial Services Inc lessened its stake in Visa Inc. (NYSE:VFree Report) by 1.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,458 shares of the credit-card processor’s stock after selling 275 shares during the quarter. Visa makes up about 0.3% of Strategic Financial Services Inc’s portfolio, making the stock its 24th biggest holding. Strategic Financial Services Inc’s holdings in Visa were worth $4,285,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in shares of Visa by 4.7% during the third quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock worth $11,582,785,000 after buying an additional 2,257,605 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Visa by 4.7% in the third quarter. Northern Trust Corp now owns 17,073,700 shares of the credit-card processor’s stock valued at $3,927,122,000 after purchasing an additional 763,505 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Visa by 2.7% in the third quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock valued at $3,272,846,000 after purchasing an additional 374,489 shares during the period. Jennison Associates LLC grew its holdings in shares of Visa by 0.7% in the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after purchasing an additional 85,123 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Visa by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,524,329 shares of the credit-card processor’s stock valued at $2,725,079,000 after purchasing an additional 141,566 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lloyd Carney sold 909 shares of Visa stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of V traded down $1.78 during mid-day trading on Tuesday, hitting $277.61. The company’s stock had a trading volume of 18,525,812 shares, compared to its average volume of 6,172,909. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The firm has a 50-day simple moving average of $277.49 and a 200 day simple moving average of $267.65. The firm has a market capitalization of $507.73 billion, a P/E ratio of 30.72, a P/E/G ratio of 1.92 and a beta of 0.95. Visa Inc. has a 1-year low of $216.14 and a 1-year high of $290.96.

Visa (NYSE:VGet Free Report) 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 the consensus estimate 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 return on equity of 51.23% and a net margin of 53.87%. Visa’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.09 earnings per share. Analysts predict that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio (DPR) is 23.24%.

Analysts Set New Price Targets

Several brokerages have weighed in on V. UBS Group increased their target price on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Redburn Atlantic reissued a “neutral” rating and issued a $307.00 target price on shares of Visa in a research report on Wednesday, March 27th. Wedbush raised their price target on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. William Blair reiterated an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Finally, Barclays increased their target price on Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $303.76.

Read Our Latest Stock Analysis on V

Visa Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Visa (NYSE:V)

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