Financial Network Wealth Management LLC Sells 340 Shares of Visa Inc. (NYSE:V)

Financial Network Wealth Management LLC cut its stake in Visa Inc. (NYSE:V) by 6.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,025 shares of the credit-card processor’s stock after selling 340 shares during the period. Financial Network Wealth Management LLC’s holdings in Visa were worth $1,588,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Decker Retirement Planning Inc. purchased a new stake in Visa in the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Visa in the fourth quarter worth $27,000. POM Investment Strategies LLC increased its stake in Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares during the period. Modus Advisors LLC purchased a new stake in Visa in the fourth quarter worth $32,000. Finally, Compass Planning Associates Inc purchased a new stake in Visa in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $339.10 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $629.96 billion, a PE ratio of 34.18, a P/E/G ratio of 2.33 and a beta of 0.95. The business has a 50-day simple moving average of $339.91 and a two-hundred day simple moving average of $312.40. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $366.54.

Visa (NYSE:V) last issued its quarterly earnings results 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 return on equity of 54.79% and a net margin of 54.27%. As a group, equities analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is 23.79%.

Analyst Ratings Changes

A number of analysts have weighed in on V shares. Raymond James reiterated an “outperform” rating and issued a $393.00 target price (up previously from $374.00) on shares of Visa in a research note on Friday, January 31st. Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. raised their price target on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company raised their price target on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $353.96.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the transaction, the chief executive officer now directly owns 537 shares in the company, valued at approximately $194,931. This trade represents a 94.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total value of $13,395,133.50. Following the transaction, the insider now owns 26,413 shares of the company’s stock, valued at approximately $8,991,249.33. This represents a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock valued at $48,560,961 over the last quarter. 0.13% of the stock is currently owned by company insiders.

Visa 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.