Visa Inc. (NYSE:V) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. cut its position in shares of Visa Inc. (NYSE:V) by 7.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 489,479 shares of the credit-card processor’s stock after selling 36,590 shares during the quarter. Visa comprises 2.7% of iA Global Asset Management Inc.’s portfolio, making the stock its 7th biggest position. iA Global Asset Management Inc.’s holdings in Visa were worth $154,695,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC raised its position in shares of Visa by 3.3% during 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 last quarter. Warther Private Wealth LLC raised its position in shares of Visa by 1.0% during 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 last quarter. Valmark Advisers Inc. raised its position in shares of Visa by 0.4% during the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock worth $2,292,000 after acquiring an additional 30 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. raised its position in shares of Visa by 0.4% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor’s stock worth $2,302,000 after acquiring an additional 30 shares during the last quarter. Finally, Crescent Grove Advisors LLC grew its stake in shares of Visa by 2.2% during the fourth quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock worth $454,000 after purchasing an additional 31 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

V opened at $339.92 on Thursday. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $366.54. The firm has a market capitalization of $631.50 billion, a PE ratio of 34.27, a PEG ratio of 2.33 and a beta of 0.95. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The business’s 50-day simple moving average is $339.38 and its 200 day simple moving average is $312.21.

Visa (NYSE:V) last released its 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 return on equity of 54.79% and a net margin of 54.27%. As a group, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced 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. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.69%. Visa’s payout ratio is presently 23.79%.

Analyst Ratings Changes

A number of brokerages recently commented on V. Susquehanna lifted their price objective on Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Barclays lifted their price objective on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $383.00 price objective (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and set a $393.00 price objective (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Six research 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $353.96.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’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 value of $2,739,263.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the sale, the insider now owns 26,413 shares in the company, valued at $8,642,333.60. This represents a 59.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,855 shares of company stock worth $35,165,827. Corporate insiders own 0.13% of the company’s stock.

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.