Sierra Summit Advisors LLC Decreases Stock Position in Visa Inc. (NYSE:V)

Sierra Summit Advisors LLC trimmed its stake in shares of Visa Inc. (NYSE:V) by 46.4% in the 4th quarter, HoldingsChannel reports. The firm owned 972 shares of the credit-card processor’s stock after selling 840 shares during the period. Sierra Summit Advisors LLC’s holdings in Visa were worth $307,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Visa during the 4th quarter worth about $5,171,271,000. Vanguard Group Inc. raised its position in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Visa during the fourth quarter worth approximately $1,955,403,000. Proficio Capital Partners LLC boosted its holdings in Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after purchasing an additional 3,926,049 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after purchasing an additional 2,772,549 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE:V opened at $311.93 on Tuesday. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54. The company has a 50-day moving average price of $344.58 and a 200 day moving average price of $317.46. The company has a market cap of $579.50 billion, a P/E ratio of 31.44, a PEG ratio of 2.33 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

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

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. Visa’s payout ratio is currently 23.79%.

Analyst Ratings Changes

V has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Raymond James reissued an “outperform” rating and issued a $393.00 price target (up from $374.00) on shares of Visa in a research report on Friday, January 31st. Citigroup restated a “neutral” rating on shares of Visa in a research note on Thursday, February 13th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Finally, William Blair reissued an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $355.84.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the transaction, the chief executive officer now directly owns 537 shares of the company’s stock, valued at approximately $188,186.28. The trade was a 94.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the sale, the insider now directly owns 26,413 shares in the company, valued at $8,642,333.60. This trade represents a 59.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,205 shares of company stock valued at $48,842,490 in the last ninety days. 0.13% of the stock is currently owned by company insiders.

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.