NFJ Investment Group LLC Sells 5,059 Shares of Visa Inc. (NYSE:V)

NFJ Investment Group LLC trimmed its position in Visa Inc. (NYSE:V) by 12.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 34,202 shares of the credit-card processor’s stock after selling 5,059 shares during the period. NFJ Investment Group LLC’s holdings in Visa were worth $10,809,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Decker Retirement Planning Inc. bought a new stake in shares of Visa during the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Visa during the 4th quarter worth approximately $27,000. POM Investment Strategies LLC grew its holdings in Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after acquiring an additional 32 shares during the last quarter. Modus Advisors LLC acquired a new position in Visa in the 4th quarter valued at approximately $32,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Visa during the fourth quarter worth $32,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the firm’s stock in a transaction that occurred on 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 represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock valued at $48,842,490 in the last 90 days. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. The Goldman Sachs Group raised their target price on Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Susquehanna reissued a “positive” rating on shares of Visa in a research report on Friday, March 21st. William Blair restated an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Finally, Barclays lifted their target price on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $355.84.

Visa Price Performance

NYSE:V opened at $335.88 on Wednesday. The business’s 50-day simple moving average is $341.89 and its two-hundred day simple moving average is $319.63. 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 52 week low of $252.70 and a 52 week high of $366.54. The stock has a market cap of $623.98 billion, a PE ratio of 33.86, a P/E/G ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s payout ratio is currently 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.