Kimelman & Baird LLC Reduces Holdings in Visa Inc. (NYSE:V)

Kimelman & Baird LLC cut its stake in shares of Visa Inc. (NYSE:V) by 0.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,791 shares of the credit-card processor’s stock after selling 1,039 shares during the quarter. Visa accounts for about 2.7% of Kimelman & Baird LLC’s investment portfolio, making the stock its 16th largest holding. Kimelman & Baird LLC’s holdings in Visa were worth $34,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Riverstone Advisors LLC bought a new stake in shares of Visa in the 4th quarter worth approximately $217,000. Journey Strategic Wealth LLC grew 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 buying an additional 1,361 shares during the last quarter. King Wealth Management Group grew its position in shares of Visa by 9.0% in the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock worth $23,663,000 after buying an additional 6,172 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Visa in the 4th quarter worth approximately $10,163,000. Finally, Copley Financial Group Inc. bought a new stake in shares of Visa in the 3rd quarter worth approximately $616,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Susquehanna lifted their price objective on Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. Piper Sandler restated an “overweight” rating and set a $383.00 price target (up from $368.00) on shares of Visa in a research report on Friday, January 31st. Raymond James restated an “outperform” rating and set a $393.00 price target (up from $374.00) on shares of Visa in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Oppenheimer restated an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Stock Up 1.0 %

Visa stock opened at $331.72 on Monday. The stock has a market cap of $616.26 billion, a PE ratio of 33.44, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a one year low of $252.70 and a one year high of $366.54. The stock has a fifty day moving average of $337.96 and a 200 day moving average of $311.19.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 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%. As a group, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now directly owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,855 shares of company stock valued at $35,165,827. Company insiders own 0.13% of the company’s stock.

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.