Castle Wealth Management LLC Sells 97 Shares of Visa Inc. (NYSE:V)

Castle Wealth Management LLC lessened its stake in Visa Inc. (NYSE:V) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,299 shares of the credit-card processor’s stock after selling 97 shares during the period. Castle Wealth Management LLC’s holdings in Visa were worth $1,359,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in V. International Assets Investment Management LLC lifted its stake in shares of Visa by 45,189.4% in the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after purchasing an additional 9,736,958 shares during the period. State Street Corp increased its holdings in Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares in the last quarter. FMR LLC increased its holdings in Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after purchasing an additional 3,265,518 shares in the last quarter. Geode Capital Management LLC increased its holdings in Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after purchasing an additional 2,772,549 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Visa in the third quarter valued at approximately $268,640,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Down 0.5 %

NYSE V opened at $353.73 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.28. The stock has a market capitalization of $657.15 billion, a PE ratio of 35.66, a PEG ratio of 2.32 and a beta of 0.97. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $356.08. The business’s 50-day moving average is $324.29 and its 200 day moving average is $298.30.

Visa (NYSE:V) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts forecast that Visa Inc. will post 11.27 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be paid 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 payout ratio is presently 23.79%.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,572 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of the firm’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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,056 shares of company stock valued at $19,830,050 over the last ninety days. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on V. JPMorgan Chase & Co. upped their target price on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. UBS Group increased their target price on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Bank of America increased their target price on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Citigroup increased their price objective on Visa from $354.00 to $393.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Susquehanna increased their price objective on Visa from $375.00 to $395.00 and gave the stock a “positive” rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $354.73.

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.