Exchange Capital Management Inc. Reduces Position in Visa Inc. (NYSE:V)

Exchange Capital Management Inc. reduced its holdings in Visa Inc. (NYSE:V) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,333 shares of the credit-card processor’s stock after selling 281 shares during the period. Exchange Capital Management Inc.’s holdings in Visa were worth $4,530,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of V. Swedbank AB boosted its stake in Visa by 10.7% during the third quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock worth $566,153,000 after buying an additional 199,440 shares during the last quarter. Howard Capital Management Group LLC raised its holdings in shares of Visa by 0.6% during the 3rd quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock worth $29,242,000 after acquiring an additional 610 shares during the period. Pettinga Financial Advisors LLC acquired a new position in shares of Visa during the 3rd quarter valued at about $228,000. Investment Partners Asset Management Inc. grew its holdings in shares of Visa by 7.8% in the third quarter. Investment Partners Asset Management Inc. now owns 2,981 shares of the credit-card processor’s stock valued at $820,000 after purchasing an additional 215 shares during the period. Finally, Concord Wealth Partners increased its position in Visa by 9.6% during the third quarter. Concord Wealth Partners now owns 9,685 shares of the credit-card processor’s stock worth $2,663,000 after purchasing an additional 852 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on V. Oppenheimer reiterated an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Piper Sandler reiterated an “overweight” rating and issued a $383.00 price objective (up from $368.00) on shares of Visa in a report on Friday, January 31st. Raymond James reissued an “outperform” rating and set a $393.00 target price (up previously from $374.00) on shares of Visa in a research note on Friday, January 31st. Bank of America lifted their target price on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, William Blair reiterated an “outperform” rating on shares of Visa in a report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $353.96.

Insider Transactions at Visa

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now directly owns 36,566 shares in the company, valued at $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the sale, the general counsel now directly owns 11,925 shares of the company’s stock, valued at $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 55,885 shares of company stock valued at $19,161,447. Insiders own 0.13% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $350.61 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $651.36 billion, a price-to-earnings ratio of 35.34, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. The stock’s 50-day moving average is $331.31 and its two-hundred day moving average is $304.27. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $357.15.

Visa (NYSE:V) last released its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa’s payout ratio is 23.79%.

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.