Wealthfront Advisers LLC Sells 1,853 Shares of Visa Inc. $V

Wealthfront Advisers LLC decreased its position in Visa Inc. (NYSE:V) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 191,969 shares of the credit-card processor’s stock after selling 1,853 shares during the quarter. Wealthfront Advisers LLC’s holdings in Visa were worth $65,534,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of V. Sonoma Allocations LLC bought a new stake in Visa during the third quarter worth about $710,000. AQR Capital Management LLC lifted its holdings in shares of Visa by 1.8% during the second quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock valued at $438,196,000 after purchasing an additional 21,401 shares during the last quarter. Baltimore Washington Financial Advisors Inc. boosted its position in shares of Visa by 5.9% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock worth $33,783,000 after purchasing an additional 5,295 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Visa by 2.6% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 574,043 shares of the credit-card processor’s stock worth $198,596,000 after purchasing an additional 14,581 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Visa by 24.1% in the 3rd quarter. Federated Hermes Inc. now owns 823,262 shares of the credit-card processor’s stock worth $281,045,000 after buying an additional 159,906 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

Shares of Visa stock opened at $325.48 on Tuesday. The company has a market capitalization of $590.80 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 1.90 and a beta of 0.79. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51. The stock’s 50-day simple moving average is $338.40 and its 200-day simple moving average is $340.57. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, topping the consensus estimate of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The business had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter in the previous year, the company earned $2.75 EPS. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. As a group, analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, February 10th. Visa’s payout ratio is 25.14%.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the transaction, the insider directly owned 26,413 shares in the company, valued at $8,608,789.09. This represents a 7.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the sale, the chief executive officer directly owned 9,401 shares in the company, valued at $3,282,641.18. This trade represents a 52.73% decrease in their position. The SEC filing for this sale provides additional information. 0.12% of the stock is owned by insiders.

Analysts Set New Price Targets

V has been the topic of several analyst reports. Cantor Fitzgerald raised Visa to a “strong-buy” rating in a report on Tuesday, January 27th. Robert W. Baird set a $425.00 price target on Visa in a research report on Wednesday, October 29th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $395.00 price target on shares of Visa in a research note on Friday, January 30th. Raymond James Financial restated an “outperform” rating and set a $408.00 price objective (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Finally, Evercore set a $380.00 target price on shares of Visa in a report on Friday, December 12th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Visa has a consensus rating of “Buy” and a consensus target price of $392.29.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.