Latitude Advisors LLC Sells 42 Shares of Visa Inc. (NYSE:V)

Latitude Advisors LLC cut its position in shares of Visa Inc. (NYSE:V) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,098 shares of the credit-card processor’s stock after selling 42 shares during the period. Latitude Advisors LLC’s holdings in Visa were worth $979,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Riverstone Advisors LLC bought a new stake in Visa during the 4th quarter valued at $217,000. Custom Index Systems LLC bought a new position in shares of Visa in the 3rd quarter worth $731,000. Journey Strategic Wealth LLC raised its position in shares of Visa by 16.4% in the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after acquiring an additional 1,361 shares in the last quarter. Copley Financial Group Inc. bought a new position in shares of Visa in the 3rd quarter worth $616,000. Finally, Calamos Wealth Management LLC raised its position in shares of Visa by 0.6% in the 4th quarter. Calamos Wealth Management LLC now owns 77,443 shares of the credit-card processor’s stock worth $24,475,000 after acquiring an additional 435 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the firm’s 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 in the company, valued at $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were 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. Insiders have sold a total of 58,056 shares of company stock worth $19,830,050 over the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on V shares. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. TD Cowen boosted their price target on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research 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 research note 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 research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods boosted their target price on Visa from $360.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $354.73.

Visa Stock Performance

NYSE V opened at $351.43 on Thursday. The stock has a market capitalization of $652.88 billion, a price-to-earnings ratio of 35.43, a PEG ratio of 2.32 and a beta of 0.97. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $352.12. The company has a current ratio of 1.12, a quick ratio of 1.28 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average of $322.53 and a 200 day moving average of $297.52.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping 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 11.27 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced 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. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. Visa’s dividend payout ratio (DPR) is presently 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.