Towerpoint Wealth LLC Sells 84 Shares of Visa Inc. (NYSE:V)

Towerpoint Wealth LLC lowered its stake in Visa Inc. (NYSE:V) by 8.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 919 shares of the credit-card processor’s stock after selling 84 shares during the period. Towerpoint Wealth LLC’s holdings in Visa were worth $290,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in V. Sanders Morris Harris LLC boosted its holdings in shares of Visa by 0.4% during the fourth quarter. Sanders Morris Harris LLC now owns 9,623 shares of the credit-card processor’s stock worth $3,052,000 after purchasing an additional 37 shares during the period. West Coast Financial LLC raised its position in Visa by 1.3% during the 4th quarter. West Coast Financial LLC now owns 34,066 shares of the credit-card processor’s stock valued at $10,766,000 after purchasing an additional 434 shares during the last quarter. Cordant Inc. purchased a new stake in Visa in the 4th quarter worth approximately $63,000. Hennion & Walsh Asset Management Inc. grew its position in shares of Visa by 6.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 45,580 shares of the credit-card processor’s stock worth $14,405,000 after buying an additional 2,734 shares during the last quarter. Finally, Mason & Associates Inc increased its stake in shares of Visa by 2.7% during the fourth quarter. Mason & Associates Inc now owns 1,895 shares of the credit-card processor’s stock valued at $599,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

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

Visa Stock Up 0.9 %

V stock opened at $319.97 on Friday. The stock has a market capitalization of $596.06 billion, a P/E ratio of 32.88, a P/E/G ratio of 2.06 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $321.61. The business has a fifty day moving average price of $313.16 and a 200-day moving average price of $288.06.

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

Visa Increases Dividend

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

Wall Street Analysts Forecast Growth

V has been the subject of a number of research analyst reports. Morgan Stanley raised their price target on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Oppenheimer increased their price target on shares of Visa from $321.00 to $375.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Macquarie lifted their price objective on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods increased their target price on Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $331.92.

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.