Visa Inc. (NYSE:V) Shares Sold by Canoe Financial LP

Canoe Financial LP lessened its position in Visa Inc. (NYSE:V) by 19.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 387,901 shares of the credit-card processor’s stock after selling 91,547 shares during the period. Visa makes up 1.8% of Canoe Financial LP’s investment portfolio, making the stock its 20th largest holding. Canoe Financial LP’s holdings in Visa were worth $122,592,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Peterson Financial Group Inc. purchased a new position in Visa in the third quarter worth $26,000. Decker Retirement Planning Inc. purchased a new position in shares of Visa in the 4th quarter valued at about $26,000. Reston Wealth Management LLC acquired a new stake in shares of Visa in the third quarter valued at about $31,000. Modus Advisors LLC purchased a new stake in Visa during the fourth quarter worth about $32,000. Finally, West Financial Advisors LLC grew its position in Visa by 101.4% during the third 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. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.9 %

NYSE V opened at $319.97 on Monday. The firm has a market capitalization of $596.06 billion, a price-to-earnings ratio of 32.88, 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. Visa Inc. has a one year low of $252.70 and a one year high of $321.61. The company’s 50 day moving average price is $313.41 and its 200 day moving average price is $288.59.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the firm posted $2.33 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, sell-side analysts predict that Visa Inc. will post 11.22 EPS for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued 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 0.74%. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Wall Street Analysts Forecast Growth

V has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft upped their target price on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citigroup lifted their price target on Visa from $326.00 to $354.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. BMO Capital Markets increased their price objective on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Four equities research 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $331.92.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Visa Company 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.