Wealthspire Advisors LLC Sells 2,146 Shares of Visa Inc. (NYSE:V)

Wealthspire Advisors LLC lessened its stake in shares of Visa Inc. (NYSE:V) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,349 shares of the credit-card processor’s stock after selling 2,146 shares during the period. Wealthspire Advisors LLC’s holdings in Visa were worth $7,695,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Elevation Wealth Partners LLC raised its position in shares of Visa by 3.3% during the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock worth $297,000 after acquiring an additional 30 shares during the last quarter. Warther Private Wealth LLC increased its position in Visa by 1.0% during the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after purchasing an additional 30 shares during the period. Valmark Advisers Inc. raised its holdings in Visa by 0.4% during the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock worth $2,292,000 after purchasing an additional 30 shares during the last quarter. Crescent Grove Advisors LLC lifted its position in shares of Visa by 2.2% in the 4th quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock worth $454,000 after purchasing an additional 31 shares during the period. Finally, Vicus Capital boosted its stake in shares of Visa by 3.1% in the 4th quarter. Vicus Capital now owns 1,032 shares of the credit-card processor’s stock valued at $326,000 after purchasing an additional 31 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on V. Citigroup reissued a “neutral” rating on shares of Visa in a research note on Thursday, February 13th. Wells Fargo & Company boosted their price objective on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Jefferies Financial Group raised their target price on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. TD Cowen boosted their price target on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada raised their price objective on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Stock Performance

NYSE V opened at $349.46 on Tuesday. The firm has a market cap of $649.21 billion, a price-to-earnings ratio of 35.23, a PEG ratio of 2.33 and a beta of 0.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The company has a fifty day moving average price of $329.81 and a 200-day moving average price of $303.29. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $357.15.

Visa (NYSE:V) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced 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. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Tuesday, February 11th. Visa’s payout ratio is presently 23.79%.

Insider Activity

In other Visa news, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the transaction, the chief accounting officer now directly owns 4,488 shares in the company, valued at $1,569,094.56. This represents a 34.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the sale, the general counsel now owns 11,925 shares of the company’s stock, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,885 shares of company stock worth $19,161,447 over the last ninety days. Company 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.