Elk River Wealth Management LLC Trims Stock Position in Visa Inc. (NYSE:V)

Elk River Wealth Management LLC lowered its position in shares of Visa Inc. (NYSE:V) by 12.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,780 shares of the credit-card processor’s stock after selling 403 shares during the period. Elk River Wealth Management LLC’s holdings in Visa were worth $724,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Investment Advisory Services Inc. TX ADV boosted its stake in shares of Visa by 2.0% in the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 3,930 shares of the credit-card processor’s stock valued at $904,000 after purchasing an additional 78 shares in the last quarter. Camarda Financial Advisors LLC raised its holdings in Visa by 3.0% during the 2nd quarter. Camarda Financial Advisors LLC now owns 6,249 shares of the credit-card processor’s stock valued at $1,484,000 after buying an additional 182 shares during the last quarter. Wayfinding Financial LLC raised its holdings in Visa by 10.1% in the 3rd quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock worth $406,000 after purchasing an additional 161 shares in the last quarter. Richelieu Gestion SA bought a new position in Visa in the 4th quarter worth $307,000. Finally, Orion Portfolio Solutions LLC increased its stake in shares of Visa by 5,907.4% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 221,012 shares of the credit-card processor’s stock worth $52,486,000 after acquiring an additional 217,333 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 0.0 %

Shares of V stock traded down $0.13 on Thursday, hitting $278.89. The stock had a trading volume of 2,405,410 shares, compared to its average volume of 5,592,589. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average price of $278.86 and a 200 day moving average price of $258.51. The company has a market cap of $512.18 billion, a PE ratio of 32.09, a P/E/G ratio of 1.94 and a beta of 0.96. Visa Inc. has a one year low of $216.14 and a one year high of $290.96.

Visa (NYSE:V) last announced its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. The business had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.55 billion. Visa had a net margin of 53.92% and a return on equity of 50.02%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.18 earnings per share. Research analysts anticipate that Visa Inc. will post 9.89 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s payout ratio is 23.94%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Mizuho reaffirmed a “neutral” rating and set a $265.00 price target on shares of Visa in a report on Wednesday. UBS Group raised their price target on shares of Visa from $305.00 to $315.00 and gave the company a “buy” rating in a report on Friday, January 26th. Citigroup increased their price objective on shares of Visa from $296.00 to $306.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Wedbush increased their price objective on shares of Visa from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Finally, Barclays increased their price objective on shares of Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $295.82.

Insider Transactions at Visa

In other news, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the sale, the chief accounting officer now owns 4,898 shares in the company, valued at $1,365,954.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the sale, the chief accounting officer now owns 4,898 shares in the company, valued at $1,365,954.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Rajat Taneja sold 36,546 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $270.20, for a total value of $9,874,729.20. Following the completion of the sale, the insider now owns 232,112 shares in the company, valued at approximately $62,716,662.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,311 shares of company stock worth $12,832,129. Insiders own 0.19% 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.