Visa Inc. (NYSE:V) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN lessened its holdings in Visa Inc. (NYSE:VFree Report) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,480 shares of the credit-card processor’s stock after selling 4,537 shares during the quarter. Visa makes up about 2.3% of Patten & Patten Inc. TN’s investment portfolio, making the stock its 7th largest holding. Patten & Patten Inc. TN’s holdings in Visa were worth $28,503,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. TIAA Trust National Association lifted its stake in Visa by 0.7% in the fourth quarter. TIAA Trust National Association now owns 221,525 shares of the credit-card processor’s stock valued at $57,674,000 after buying an additional 1,490 shares during the last quarter. FAS Wealth Partners Inc. lifted its stake in Visa by 11.6% in the fourth quarter. FAS Wealth Partners Inc. now owns 10,389 shares of the credit-card processor’s stock valued at $2,705,000 after buying an additional 1,084 shares during the last quarter. Welch Group LLC lifted its stake in Visa by 1.2% in the fourth quarter. Welch Group LLC now owns 24,334 shares of the credit-card processor’s stock valued at $6,335,000 after buying an additional 284 shares during the last quarter. State of Michigan Retirement System lifted its stake in Visa by 1.1% in the fourth quarter. State of Michigan Retirement System now owns 588,623 shares of the credit-card processor’s stock valued at $153,248,000 after buying an additional 6,300 shares during the last quarter. Finally, Princeton Global Asset Management LLC lifted its stake in Visa by 2.5% in the fourth quarter. Princeton Global Asset Management LLC now owns 24,865 shares of the credit-card processor’s stock valued at $6,474,000 after buying an additional 612 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were 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 directly owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were 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 in the company, valued at approximately $150,833.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. Insiders have sold a total of 55,511 shares of company stock valued at $15,131,081 in the last 90 days. 0.19% of the stock is currently owned by corporate insiders.

Visa Trading Down 0.5 %

Shares of V opened at $276.96 on Thursday. The business’s 50-day moving average price is $279.87 and its 200 day moving average price is $259.82. The stock has a market capitalization of $508.64 billion, a P/E ratio of 31.87, a P/E/G ratio of 1.92 and a beta of 0.96. Visa Inc. has a 1-year low of $216.14 and a 1-year high of $290.96. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54.

Visa (NYSE:VGet Free Report) last issued its quarterly earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. The firm had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.55 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. Visa’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $2.18 EPS. Analysts expect that Visa Inc. will post 9.89 earnings per share for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio is currently 23.94%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Visa from $305.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Jefferies Financial Group lifted their price objective on shares of Visa from $280.00 to $295.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. William Blair restated an “outperform” rating on shares of Visa in a research note on Friday, January 26th. Barclays lifted their price objective on shares of Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Finally, Royal Bank of Canada lifted their price objective on shares of Visa from $290.00 to $309.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $295.82.

Check Out Our Latest Stock Report on Visa

Visa Company 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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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