Virtu Financial LLC Sells 24,227 Shares of Visa Inc. (NYSE:V)

Virtu Financial LLC cut its holdings in shares of Visa Inc. (NYSE:V) by 53.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,757 shares of the credit-card processor’s stock after selling 24,227 shares during the period. Virtu Financial LLC’s holdings in Visa were worth $6,560,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in V. Decker Retirement Planning Inc. acquired a new position in shares of Visa during the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Visa in the 4th quarter valued at $27,000. POM Investment Strategies LLC increased its position in shares of Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after acquiring an additional 32 shares during the period. Modus Advisors LLC acquired a new position in shares of Visa in the 4th quarter valued at $32,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Visa in the 4th quarter valued at $32,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Piper Sandler reissued an “overweight” rating and issued a $383.00 target price (up from $368.00) on shares of Visa in a research report on Friday, January 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a report on Thursday, February 13th. Finally, Bank of America upped their price target on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $353.96.

Visa Stock Down 0.9 %

V opened at $336.51 on Friday. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $340.48 and a 200 day moving average price of $312.82. The company has a market cap of $625.15 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last released 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 net margin of 54.27% and a return on equity of 54.79%. Sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 39,350 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the sale, the insider now owns 26,413 shares in the company, valued at $8,642,333.60. This trade represents a 59.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s 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 sale, the chief executive officer now owns 537 shares of the company’s stock, valued at $194,931. This represents a 94.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,205 shares of company stock worth $48,560,961. Insiders own 0.13% of the company’s stock.

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.