Cadinha & Co. LLC Reduces Stake in Visa Inc. (NYSE:V)

Cadinha & Co. LLC lowered its holdings in Visa Inc. (NYSE:V) by 7.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,563 shares of the credit-card processor’s stock after selling 496 shares during the period. Cadinha & Co. LLC’s holdings in Visa were worth $2,074,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Custom Index Systems LLC purchased a new position in shares of Visa in the 3rd quarter valued at approximately $731,000. Copley Financial Group Inc. purchased a new position in shares of Visa in the 3rd quarter valued at approximately $616,000. FORA Capital LLC purchased a new position in shares of Visa in the 3rd quarter valued at approximately $7,987,000. Chicago Capital LLC lifted its stake in shares of Visa by 5.2% in the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after purchasing an additional 20,023 shares during the period. Finally, Nexus Investment Management ULC lifted its stake in shares of Visa by 5,034.0% in the 3rd quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock valued at $15,499,000 after purchasing an additional 55,273 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

NYSE V opened at $319.97 on Tuesday. The company has a market capitalization of $596.06 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The business’s fifty day moving average is $313.41 and its 200 day moving average is $288.73. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $321.61.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.33 earnings per share. Sell-side analysts predict that Visa Inc. will post 11.22 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.74%. Visa’s payout ratio is 24.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on V shares. Wells Fargo & Company raised their target price on Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Royal Bank of Canada raised their price objective on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Mizuho raised their price objective on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $331.92.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

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.