TFC Financial Management Inc. Reduces Position in Visa Inc. (NYSE:V)

TFC Financial Management Inc. lowered its holdings in Visa Inc. (NYSE:V) by 10.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,453 shares of the credit-card processor’s stock after selling 163 shares during the period. TFC Financial Management Inc.’s holdings in Visa were worth $459,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of V. International Assets Investment Management LLC increased its position in shares of Visa by 45,189.4% in the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after purchasing an additional 9,736,958 shares during the last quarter. State Street Corp increased its holdings in Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after buying an additional 3,327,977 shares during the last quarter. FMR LLC raised its stake in Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after buying an additional 3,265,518 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after buying an additional 2,772,549 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Visa in the 3rd quarter worth approximately $268,640,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 0.5 %

NYSE V opened at $353.73 on Friday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $356.08. The company has a market capitalization of $657.15 billion, a P/E ratio of 35.66, a PEG ratio of 2.32 and a beta of 0.97. The company’s 50 day simple moving average is $325.14 and its 200 day simple moving average is $298.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.28.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Equities research analysts expect that Visa Inc. will post 11.27 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on V shares. Royal Bank of Canada upped their price target on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Citigroup raised their price target on shares of Visa from $354.00 to $393.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and set a $393.00 price objective (up previously from $374.00) on shares of Visa in a research report on Friday, January 31st. Keefe, Bruyette & Woods raised their target price on shares of Visa from $360.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group upped their target price on Visa from $346.00 to $384.00 and gave the company a “buy” rating in a report on Friday, January 31st. Four 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $354.73.

Insider Buying and Selling at Visa

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the sale, the insider now owns 36,566 shares in the company, valued at $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.62, for a total value of $815,313.84. Following the transaction, the chief accounting officer now owns 4,488 shares in the company, valued at $1,569,094.56. This represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,056 shares of company stock valued at $19,830,050. 0.13% of the stock is currently owned by corporate 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.