Sigma Planning Corp Sells 1,404 Shares of Visa Inc. (NYSE:V)

Sigma Planning Corp lowered its position in Visa Inc. (NYSE:V) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,920 shares of the credit-card processor’s stock after selling 1,404 shares during the period. Sigma Planning Corp’s holdings in Visa were worth $12,300,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Swedbank AB increased its position in Visa by 10.7% in the 3rd quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock valued at $566,153,000 after acquiring an additional 199,440 shares in the last quarter. Howard Capital Management Group LLC increased its holdings in shares of Visa by 0.6% in the third quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock valued at $29,242,000 after purchasing an additional 610 shares in the last quarter. Pettinga Financial Advisors LLC acquired a new stake in shares of Visa in the third quarter valued at approximately $228,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Visa by 5.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 384,710 shares of the credit-card processor’s stock worth $105,860,000 after buying an additional 18,389 shares in the last quarter. Finally, Forsta AP Fonden boosted its position in Visa by 8.7% in the 3rd quarter. Forsta AP Fonden now owns 437,486 shares of the credit-card processor’s stock valued at $120,287,000 after buying an additional 35,100 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on V shares. William Blair restated an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Susquehanna boosted their price objective on Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a report on Friday. TD Cowen raised their target price on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup reissued a “neutral” rating on shares of Visa in a research note on Thursday, February 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $383.00 price objective (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Trading Up 0.3 %

Shares of 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. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $357.15. The company’s fifty day simple moving average is $329.81 and its 200 day simple moving average is $303.29. 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 released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (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%. As a group, research analysts forecast that Visa Inc. will post 11.3 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. Shareholders of record on Tuesday, February 11th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Insiders Place Their Bets

In related news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the sale, the insider now owns 36,566 shares in the company, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the transaction, the chief accounting officer now owns 4,488 shares of the company’s stock, valued at approximately $1,569,094.56. This represents a 34.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,885 shares of company stock valued at $19,161,447 in the last quarter. 0.13% of the stock is currently owned by insiders.

Visa Company 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.