Folger Nolan Fleming Douglas Capital Management Inc. Sells 3,323 Shares of Visa Inc. (NYSE:V)

Folger Nolan Fleming Douglas Capital Management Inc. reduced its holdings in shares of Visa Inc. (NYSE:V) by 5.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,923 shares of the credit-card processor’s stock after selling 3,323 shares during the quarter. Visa accounts for about 1.9% of Folger Nolan Fleming Douglas Capital Management Inc.’s holdings, making the stock its 12th biggest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Visa were worth $17,990,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of V. Unionview LLC lifted its stake in shares of Visa by 1.5% in the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after acquiring an additional 33 shares during the last quarter. Forza Wealth Management LLC raised its position in Visa by 2.9% in the fourth quarter. Forza Wealth Management LLC now owns 1,164 shares of the credit-card processor’s stock valued at $368,000 after purchasing an additional 33 shares during the last quarter. Presilium Private Wealth LLC boosted its stake in shares of Visa by 2.2% during the fourth quarter. Presilium Private Wealth LLC now owns 1,503 shares of the credit-card processor’s stock valued at $475,000 after purchasing an additional 33 shares in the last quarter. FWG Holdings LLC grew its holdings in shares of Visa by 1.1% during the third quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock worth $900,000 after purchasing an additional 34 shares during the last quarter. Finally, St. Louis Trust Co increased its stake in shares of Visa by 0.9% in the third quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock valued at $1,068,000 after buying an additional 34 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Activity

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

Visa Stock Up 0.9 %

Shares of NYSE:V opened at $319.97 on Friday. The stock has a market cap of $596.06 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 2.06 and a beta of 0.96. The business’s 50 day moving average is $313.41 and its 200 day moving average is $288.45. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $321.61. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the business posted $2.33 EPS. The business’s revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts forecast that Visa Inc. will post 11.22 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend 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 presently 24.25%.

Analyst Ratings Changes

V has been the subject of several recent research reports. Macquarie upped their price target on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler increased their price objective on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Barclays lifted their target price on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. TD Cowen increased their price target on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada upped their target price on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.92.

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.