Northeast Investment Management Sells 3,144 Shares of Visa Inc. $V

Northeast Investment Management reduced its position in Visa Inc. (NYSE:V) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,635 shares of the credit-card processor’s stock after selling 3,144 shares during the quarter. Visa makes up approximately 3.4% of Northeast Investment Management’s portfolio, making the stock its 7th biggest position. Northeast Investment Management’s holdings in Visa were worth $83,513,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Visa in the second quarter valued at $7,034,939,000. TCI Fund Management Ltd. grew its stake in Visa by 14.6% during the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after purchasing an additional 2,429,996 shares in the last quarter. Corient Private Wealth LLC increased its holdings in Visa by 110.4% during the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock worth $1,396,930,000 after purchasing an additional 2,075,289 shares during the period. Vanguard Group Inc. raised its position in Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after purchasing an additional 1,461,575 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Visa by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after purchasing an additional 1,067,631 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the sale, the insider owned 26,413 shares in the company, valued at approximately $8,608,789.09. The trade was a 7.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the transaction, the chief executive officer owned 9,401 shares in the company, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.12% of the company’s stock.

Visa Trading Up 1.6%

Shares of Visa stock opened at $319.14 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $337.60 and a 200-day simple moving average of $339.37. The stock has a market cap of $579.29 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 1.80 and a beta of 0.79. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The firm had revenue of $10.90 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same period in the previous year, the company earned $2.75 earnings per share. Visa’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be given a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio is 25.14%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on V. Raymond James Financial restated an “outperform” rating and set a $408.00 target price (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. TD Cowen reissued a “buy” rating on shares of Visa in a research report on Friday, January 30th. Robert W. Baird set a $425.00 price objective on shares of Visa in a report on Wednesday, October 29th. Macquarie Infrastructure reiterated an “outperform” rating and set a $410.00 target price on shares of Visa in a research note on Friday, January 30th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $411.00 target price (up previously from $398.00) on shares of Visa in a report on Friday, January 30th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Visa currently has a consensus rating of “Buy” and an average price target of $392.21.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.