Cabot Wealth Management Inc. Reduces Stock Position in Visa Inc. (NYSE:V)

Cabot Wealth Management Inc. trimmed its holdings in shares of Visa Inc. (NYSE:V) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,096 shares of the credit-card processor’s stock after selling 301 shares during the period. Visa comprises approximately 2.2% of Cabot Wealth Management Inc.’s holdings, making the stock its 12th biggest holding. Cabot Wealth Management Inc.’s holdings in Visa were worth $17,096,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of V. Elevation Wealth Partners LLC boosted its holdings in Visa by 3.3% in the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock valued at $297,000 after purchasing an additional 30 shares during the period. Warther Private Wealth LLC boosted its holdings in Visa by 1.0% in 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. boosted its holdings in Visa by 0.4% in the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after purchasing an additional 30 shares during the period. Crescent Grove Advisors LLC boosted its holdings in Visa by 2.2% in the 4th quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock valued at $454,000 after purchasing an additional 31 shares during the period. Finally, Vicus Capital boosted its holdings in 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 period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on V. JPMorgan Chase & Co. increased their price objective on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Robert W. Baird increased their price objective on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group increased their price objective on shares of Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Morgan Stanley increased their price objective on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Susquehanna increased their price objective on shares of Visa from $395.00 to $410.00 and gave the company a “positive” rating in a research note on Friday, February 21st. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus price target of $353.96.

Insider Buying and Selling

In related news, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction 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 trade represents a 47.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Peter M. Andreski sold 2,332 shares of the company’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 transaction 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 $1,569,094.56. This trade represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,885 shares of company stock valued at $19,161,447 in the last 90 days. 0.13% of the stock is owned by insiders.

Visa Stock Up 0.6 %

Shares of NYSE V opened at $352.00 on Wednesday. The firm’s 50-day moving average is $330.49 and its 200-day moving average is $303.94. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $357.15. The firm has a market capitalization of $653.93 billion, a PE ratio of 35.48, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Equities analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s payout ratio is 23.79%.

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.