Pine Valley Investments Ltd Liability Co Reduces Stock Holdings in Visa Inc. (NYSE:V)

Pine Valley Investments Ltd Liability Co reduced its stake in Visa Inc. (NYSE:V) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,766 shares of the credit-card processor’s stock after selling 6,400 shares during the period. Visa accounts for about 1.0% of Pine Valley Investments Ltd Liability Co’s holdings, making the stock its 15th biggest position. Pine Valley Investments Ltd Liability Co’s holdings in Visa were worth $16,360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after acquiring an additional 3,327,977 shares during the period. FMR LLC boosted its holdings in shares of Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after acquiring an additional 3,265,518 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Visa by 7.7% in the third 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 acquiring an additional 2,772,549 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Visa by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock valued at $3,188,862,000 after acquiring an additional 123,927 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Visa by 6.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock valued at $3,168,096,000 after acquiring an additional 670,590 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on V. Robert W. Baird increased their price objective on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. TD Cowen increased their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley increased their price target on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Mizuho increased their price target on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,885 shares of company stock worth $19,161,447 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

Visa Trading Down 0.4 %

Shares of V stock opened at $350.61 on Thursday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $357.15. The stock has a market cap of $651.36 billion, a P/E ratio of 35.34, a P/E/G ratio of 2.33 and a beta of 0.97. The business has a fifty day simple moving average of $331.31 and a 200-day simple moving average of $304.27. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal 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 given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

About Visa

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.