Visa Inc. (NYSE:V) Holdings Lowered by Everence Capital Management Inc.

Everence Capital Management Inc. lowered its stake in Visa Inc. (NYSE:V) by 1.7% during the fourth quarter, HoldingsChannel reports. The firm owned 42,153 shares of the credit-card processor’s stock after selling 730 shares during the period. Visa accounts for approximately 0.9% of Everence Capital Management Inc.’s holdings, making the stock its 18th biggest position. Everence Capital Management Inc.’s holdings in Visa were worth $13,322,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Unionview LLC boosted its position in shares of Visa by 1.5% in the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after buying an additional 33 shares during the period. FWG Holdings LLC lifted its stake in Visa by 1.1% in the 3rd quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock worth $900,000 after acquiring an additional 34 shares in the last quarter. St. Louis Trust Co boosted its position in Visa by 0.9% during the 3rd quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock worth $1,068,000 after acquiring an additional 34 shares during the period. Menard Financial Group LLC grew its stake in Visa by 0.6% during the 3rd quarter. Menard Financial Group LLC now owns 6,217 shares of the credit-card processor’s stock valued at $1,709,000 after acquiring an additional 35 shares in the last quarter. Finally, KMG Fiduciary Partners LLC increased its holdings in shares of Visa by 0.3% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after purchasing an additional 37 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on V shares. Royal Bank of Canada raised their price target on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. TD Cowen boosted their price target on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Mizuho increased their price objective on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Macquarie upped their target price on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Susquehanna lifted their price target on Visa from $339.00 to $375.00 and gave the company a “positive” rating in a report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $329.70.

Visa Stock Performance

Shares of V stock traded down $0.68 during trading hours on Friday, reaching $313.72. 1,574,483 shares of the company’s stock were exchanged, compared to its average volume of 3,402,375. The business has a fifty day moving average price of $309.06 and a 200-day moving average price of $285.28. The stock has a market capitalization of $584.42 billion, a P/E ratio of 32.24, a P/E/G ratio of 2.11 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $321.61.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the firm earned $2.33 EPS. The business’s revenue was up 11.7% on a year-over-year basis. Analysts predict that Visa Inc. will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is 24.25%.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.

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.