Simplicity Wealth LLC Sells 8,217 Shares of Visa Inc. (NYSE:V)

Simplicity Wealth LLC decreased its holdings in Visa Inc. (NYSE:V) by 49.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,365 shares of the credit-card processor’s stock after selling 8,217 shares during the quarter. Simplicity Wealth LLC’s holdings in Visa were worth $2,644,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Visa during the fourth quarter valued at $1,955,403,000. Proficio Capital Partners LLC boosted its position in Visa by 17,018.7% during 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 acquiring an additional 3,926,049 shares during the last quarter. State Street Corp boosted its position in Visa by 4.5% during the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after acquiring an additional 3,327,977 shares during the last quarter. FMR LLC boosted its position in Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after acquiring an additional 3,265,518 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Visa by 7.7% during 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 acquiring an additional 2,772,549 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on V. Wells Fargo & Company upped their price target on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. 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 research report on Friday, January 31st. Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Susquehanna increased their price objective on shares of Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. Finally, Barclays increased their price objective on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $353.96.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the completion of the transaction, the chief executive officer now directly owns 537 shares of the company’s stock, valued at approximately $194,931. This trade represents a 94.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,505 shares of company stock valued at $22,290,507 in the last three months. Company insiders own 0.13% of the company’s stock.

Visa Trading Up 0.5 %

NYSE:V opened at $345.79 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $642.41 billion, a price-to-earnings ratio of 34.86, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54. The firm has a 50-day moving average price of $336.18 and a two-hundred day moving average price of $308.92.

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

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given 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 was Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

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.