Patten & Patten Inc. TN Sells 943 Shares of Visa Inc. (NYSE:V)

Patten & Patten Inc. TN cut its stake in Visa Inc. (NYSE:V) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 107,627 shares of the credit-card processor’s stock after selling 943 shares during the period. Visa makes up 2.2% of Patten & Patten Inc. TN’s investment portfolio, making the stock its 7th largest position. Patten & Patten Inc. TN’s holdings in Visa were worth $34,015,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Elevation Wealth Partners LLC grew its position in Visa by 3.3% in the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock valued at $297,000 after acquiring an additional 30 shares during the period. Warther Private Wealth LLC grew its position in Visa by 1.0% in the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after acquiring an additional 30 shares during the period. Valmark Advisers Inc. grew its position in Visa by 0.4% in the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after acquiring an additional 30 shares during the period. Strategic Family Wealth Counselors L.L.C. grew its position in Visa by 0.4% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor’s stock valued at $2,302,000 after acquiring an additional 30 shares during the period. Finally, Crescent Grove Advisors LLC grew its position in Visa by 2.2% in the fourth quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock valued at $454,000 after acquiring an additional 31 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

V has been the topic of a number of analyst reports. Oppenheimer reiterated an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Bank of America increased their target price on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a report on Thursday, February 13th. Wells Fargo & Company increased their target price on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group increased their target price on Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $353.96.

Visa Trading Up 1.0 %

NYSE V opened at $331.72 on Friday. The stock’s 50-day moving average is $337.96 and its 200-day moving average is $310.90. Visa Inc. has a one year low of $252.70 and a one year high of $366.54. The firm has a market cap of $616.26 billion, a P/E ratio of 33.44, a P/E/G ratio of 2.33 and a beta of 0.95. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last announced 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 return on equity of 54.79% and a net margin of 54.27%. Sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were paid a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.71%. Visa’s dividend payout ratio is 23.79%.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $8,642,333.60. The trade was a 59.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction that occurred on 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 transaction, the insider now owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,855 shares of company stock worth $35,165,827 over the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

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.