Te Ahumairangi Investment Management Ltd Lowers Stake in Visa Inc. (NYSE:V)

Te Ahumairangi Investment Management Ltd cut its position in Visa Inc. (NYSE:V) by 23.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,727 shares of the credit-card processor’s stock after selling 8,737 shares during the period. Visa comprises 1.9% of Te Ahumairangi Investment Management Ltd’s portfolio, making the stock its 11th largest holding. Te Ahumairangi Investment Management Ltd’s holdings in Visa were worth $9,079,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of V. Decker Retirement Planning Inc. bought a new stake in Visa during the fourth quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Visa during the fourth quarter worth about $27,000. POM Investment Strategies LLC raised its stake in Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after purchasing an additional 32 shares during the period. Modus Advisors LLC purchased a new position in Visa in the 4th quarter worth approximately $32,000. Finally, Compass Planning Associates Inc bought a new position in Visa in the 4th quarter worth approximately $32,000. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Down 1.0 %

Shares of NYSE V opened at $346.80 on Wednesday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The firm has a 50-day simple moving average of $344.68 and a two-hundred day simple moving average of $316.37. The company has a market cap of $644.28 billion, a P/E ratio of 34.96, a PEG ratio of 2.33 and a beta of 0.95. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping 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%. Research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on V. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Piper Sandler reiterated an “overweight” rating and issued a $383.00 price target (up from $368.00) on shares of Visa in a report on Friday, January 31st. 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 report on Friday, January 31st. Susquehanna reaffirmed a “positive” rating on shares of Visa in a report on Friday, March 21st. Finally, Morgan Stanley increased their price target on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $355.84.

Insider Activity

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 36,566 shares in the company, valued at $12,789,689.82. This trade represents a 47.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,205 shares of company stock valued at $48,560,961. 0.13% of the stock is currently owned by company insiders.

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.