Nova R Wealth Inc. Sells 56 Shares of Visa Inc. (NYSE:V)

Nova R Wealth Inc. trimmed its stake in Visa Inc. (NYSE:V) by 3.4% during the 4th quarter, Holdings Channel reports. The firm owned 1,570 shares of the credit-card processor’s stock after selling 56 shares during the quarter. Nova R Wealth Inc.’s holdings in Visa were worth $496,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of V. Elevation Wealth Partners LLC lifted its stake in Visa by 3.3% in the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock worth $297,000 after acquiring an additional 30 shares during the period. Warther Private Wealth LLC lifted its stake in Visa by 1.0% in the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock worth $928,000 after acquiring an additional 30 shares during the period. Crescent Grove Advisors LLC lifted its stake in Visa by 2.2% in the fourth quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock worth $454,000 after acquiring an additional 31 shares during the period. Vicus Capital lifted its stake in Visa by 3.1% in the fourth quarter. Vicus Capital now owns 1,032 shares of the credit-card processor’s stock worth $326,000 after acquiring an additional 31 shares during the period. Finally, Phoenix Wealth Advisors raised its holdings in Visa by 3.4% in the fourth quarter. Phoenix Wealth Advisors now owns 964 shares of the credit-card processor’s stock worth $305,000 after purchasing an additional 32 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Price Performance

Shares of V stock opened at $353.73 on Monday. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $356.08. The stock has a market capitalization of $657.15 billion, a price-to-earnings ratio of 35.66, a P/E/G ratio of 2.32 and a beta of 0.97. The stock has a fifty day simple moving average of $325.14 and a two-hundred day simple moving average of $299.19. The company has a current ratio of 1.12, a quick ratio of 1.28 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last issued its 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%. On average, analysts predict that Visa Inc. will post 11.27 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on V. TD Cowen increased their price objective on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group increased their price objective on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Barclays increased their price objective on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. raised their price target on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, William Blair restated an “outperform” rating on shares of Visa in a report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $354.73.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction dated Friday, November 22nd. The shares were 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 $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. Insiders have sold 58,056 shares of company stock valued at $19,830,050 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

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.