Nippon Life Global Investors Americas Inc. Sells 1,320 Shares of Visa Inc. (NYSE:V)

Nippon Life Global Investors Americas Inc. cut its holdings in Visa Inc. (NYSE:V) by 19.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,370 shares of the credit-card processor’s stock after selling 1,320 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Visa were worth $1,697,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of V. Decker Retirement Planning Inc. purchased a new position in Visa during the fourth quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa during the 4th quarter valued at $27,000. POM Investment Strategies LLC lifted its stake in shares of 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 buying an additional 32 shares in the last quarter. Modus Advisors LLC purchased a new position in shares of Visa during the 4th quarter valued at $32,000. Finally, Compass Planning Associates Inc bought a new position in Visa in the 4th quarter worth $32,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 2.9 %

NYSE V opened at $320.01 on Tuesday. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54. The firm has a market capitalization of $594.51 billion, a price-to-earnings ratio of 32.26, 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. The company has a fifty day moving average of $340.05 and a two-hundred day moving average of $321.34.

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

Visa Announces Dividend

The firm 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. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.74%. Visa’s dividend payout ratio is 23.79%.

Analysts Set New Price Targets

A number of research firms have commented on V. Piper Sandler reissued an “overweight” rating and set a $383.00 price target (up from $368.00) on shares of Visa in a report on Friday, January 31st. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Wells Fargo & Company upped their price target on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. The Goldman Sachs Group lifted their price objective on shares of Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Bank of America upped their target price on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $355.84.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,572 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the transaction, the general counsel now owns 11,925 shares of the company’s stock, valued at $4,054,500. This trade represents a 17.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the sale, the insider now owns 36,566 shares of the company’s stock, valued at $12,789,689.82. The trade was a 47.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 143,205 shares of company stock valued at $48,842,490. 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.