Buckingham Capital Management Inc. Has $13.59 Million Holdings in Visa Inc. (NYSE:V)

Buckingham Capital Management Inc. cut its holdings in shares of Visa Inc. (NYSE:V) by 0.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,005 shares of the credit-card processor’s stock after selling 249 shares during the quarter. Visa accounts for about 1.6% of Buckingham Capital Management Inc.’s investment portfolio, making the stock its 18th largest holding. Buckingham Capital Management Inc.’s holdings in Visa were worth $13,591,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. International Assets Investment Management LLC lifted its holdings in shares of Visa by 45,189.4% during the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after buying an additional 9,736,958 shares during the last quarter. State Street Corp lifted its holdings in shares of Visa by 4.5% during the 3rd 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 lifted its holdings in shares of Visa by 6.1% during the 3rd 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 during the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 valued at $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 stake in shares of Visa during the 3rd quarter valued at about $268,640,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,572 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the transaction, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Insiders have sold 55,885 shares of company stock valued at $19,161,447 over the last 90 days. 0.13% of the stock is owned by company insiders.

Visa Stock Performance

V opened at $350.45 on Friday. The stock has a market cap of $651.05 billion, a PE ratio of 35.33, a P/E/G ratio of 2.37 and a beta of 0.97. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $357.15. The stock’s 50 day simple moving average is $328.47 and its 200-day simple moving average is $301.39.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on V shares. BMO Capital Markets lifted their price target on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Oppenheimer boosted their target price on Visa from $375.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Royal Bank of Canada boosted their target price on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Susquehanna boosted their target price on Visa from $375.00 to $395.00 and gave the stock a “positive” rating in a report on Friday, January 31st. Finally, Piper Sandler restated an “overweight” rating and issued a $383.00 target price (up from $368.00) on shares of Visa in a report on Friday, January 31st. Four investment 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. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average price target of $354.73.

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.