Visa Inc. (NYSE:V) Stake Decreased by Cox Capital Mgt LLC

Cox Capital Mgt LLC cut its position in shares of Visa Inc. (NYSE:V) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,434 shares of the credit-card processor’s stock after selling 34 shares during the period. Visa makes up 3.3% of Cox Capital Mgt LLC’s portfolio, making the stock its 6th largest holding. Cox Capital Mgt LLC’s holdings in Visa were worth $5,194,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. bought a new position in Visa in the 3rd quarter valued at $26,000. Reston Wealth Management LLC purchased a new stake in shares of Visa during the third quarter valued at $31,000. Modus Advisors LLC bought a new position in shares of Visa in the fourth quarter worth about $32,000. West Financial Advisors LLC increased its stake in Visa by 101.4% in the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock worth $40,000 after buying an additional 73 shares during the period. Finally, Global Wealth Strategies & Associates lifted its holdings in Visa by 79.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 179 shares of the credit-card processor’s stock valued at $49,000 after buying an additional 79 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on V shares. Robert W. Baird upped their target price on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Macquarie increased their price objective on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler raised their price objective on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. BMO Capital Markets upped their target price on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.92.

Visa Price Performance

Shares of V stock opened at $316.45 on Thursday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $321.61. The firm has a market capitalization of $589.51 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 2.06 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The stock’s 50-day simple moving average is $312.76 and its 200-day simple moving average is $287.65.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the firm posted $2.33 EPS. As a group, equities analysts forecast that Visa Inc. will post 11.22 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

Insider Activity

In related news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. 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.