Steel Grove Capital Advisors LLC Decreases Position in Visa Inc. (NYSE:V)

Steel Grove Capital Advisors LLC trimmed its stake in shares of Visa Inc. (NYSE:V) by 26.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,917 shares of the credit-card processor’s stock after selling 1,029 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Visa were worth $759,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Hibernia Wealth Partners LLC purchased a new stake in Visa in the 3rd quarter valued at $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Visa during the 3rd quarter worth approximately $25,000. West Tower Group LLC acquired a new stake in shares of Visa in the second quarter valued at approximately $30,000. Nalls Sherbakoff Group LLC grew its holdings in Visa by 545.5% during the 3rd quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock valued at $33,000 after buying an additional 120 shares during the last quarter. Finally, Valued Wealth Advisors LLC acquired a new stake in shares of Visa during the fourth quarter valued at $37,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, insider Rajat Taneja sold 36,546 shares of the stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the transaction, the insider now owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Rajat Taneja sold 36,546 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the completion of the sale, the insider now owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,311 shares of company stock valued at $12,832,129. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

V has been the subject of a number of recent analyst reports. Royal Bank of Canada lifted their price objective on Visa from $290.00 to $309.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Keefe, Bruyette & Woods upped their price target on shares of Visa from $305.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Wells Fargo & Company boosted their price objective on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Redburn Atlantic reiterated a “neutral” rating and issued a $307.00 target price on shares of Visa in a report on Wednesday. Finally, KeyCorp boosted their price objective on shares of Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, January 8th. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.82.

Visa Stock Up 0.2 %

NYSE V traded up $0.57 on Thursday, hitting $279.59. 2,670,151 shares of the stock traded hands, compared to its average volume of 5,597,521. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average of $278.86 and a 200 day moving average of $258.51. Visa Inc. has a twelve month low of $216.14 and a twelve month high of $290.96. The company has a market capitalization of $513.47 billion, a P/E ratio of 32.09, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. Visa had a net margin of 53.92% and a return on equity of 50.02%. The business had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.55 billion. During the same quarter last year, the company earned $2.18 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts expect that Visa Inc. will post 9.89 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed 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. This represents a $2.08 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Thursday, February 8th. Visa’s dividend payout ratio is presently 23.94%.

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.