Mayport LLC Cuts Stake in Visa Inc. (NYSE:V)

Mayport LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 995 shares of the credit-card processor’s stock after selling 93 shares during the quarter. Mayport LLC’s holdings in Visa were worth $314,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of V. Peterson Financial Group Inc. bought a new position in shares of Visa during the third quarter valued at approximately $26,000. Decker Retirement Planning Inc. bought a new position in Visa in the 4th quarter worth $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Visa in the 4th quarter worth about $27,000. POM Investment Strategies LLC boosted its stake in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after purchasing an additional 32 shares in the last quarter. Finally, Modus Advisors LLC purchased a new position in shares of Visa during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on V. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Oppenheimer reiterated an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Barclays boosted their price objective on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Morgan Stanley raised their target price on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. boosted their price target on Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Stock Down 2.7 %

V opened at $351.88 on Wednesday. The stock has a market capitalization of $653.71 billion, a P/E ratio of 35.47, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. Visa Inc. has a one year low of $252.70 and a one year high of $366.54. The business’s 50-day simple moving average is $334.54 and its 200-day simple moving average is $307.24. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

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

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the transaction, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at approximately $1,569,094.56. This trade represents a 34.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,505 shares of company stock worth $22,290,507. 0.13% of the stock is owned by company insiders.

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.