Indie Asset Partners LLC Has $392,000 Holdings in Visa Inc. (NYSE:V)

Indie Asset Partners LLC cut its holdings in Visa Inc. (NYSE:V) by 50.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,241 shares of the credit-card processor’s stock after selling 1,265 shares during the period. Indie Asset Partners LLC’s holdings in Visa were worth $392,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Peterson Financial Group Inc. acquired a new position in shares of Visa in the third quarter valued at about $26,000. Decker Retirement Planning Inc. bought a new stake in Visa during the fourth quarter worth about $26,000. Reston Wealth Management LLC bought a new stake in Visa during the third quarter worth about $31,000. POM Investment Strategies LLC lifted its position in Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares during the period. Finally, Modus Advisors LLC bought a new stake in Visa during the fourth quarter worth about $32,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

V has been the subject of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $383.00 price objective (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Citigroup reaffirmed a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Robert W. Baird upped their price objective on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Susquehanna upped their price objective on shares of Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a research report on Friday. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $353.96.

Visa Stock Down 0.6 %

Shares of NYSE V opened at $348.27 on Monday. The company has a 50 day simple moving average of $329.14 and a 200 day simple moving average of $302.66. The firm has a market cap of $647.01 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $357.15. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

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

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.68%. Visa’s payout ratio is 23.79%.

Insiders Place Their Bets

In other Visa news, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the transaction, the chief accounting officer now owns 4,488 shares in the company, valued at approximately $1,569,094.56. This trade represents a 34.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,885 shares of company stock worth $19,161,447. 0.13% of the stock is currently owned by insiders.

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.