Tocqueville Asset Management L.P. Sells 167 Shares of Visa Inc. (NYSE:V)

Tocqueville Asset Management L.P. cut its stake in shares of Visa Inc. (NYSE:V) by 0.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 88,009 shares of the credit-card processor’s stock after selling 167 shares during the period. Tocqueville Asset Management L.P.’s holdings in Visa were worth $27,814,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Terra Alpha Investments LLC purchased a new position in Visa in the 4th quarter worth approximately $4,954,000. Cozad Asset Management Inc. increased its holdings in shares of Visa by 3.3% in the 4th quarter. Cozad Asset Management Inc. now owns 5,612 shares of the credit-card processor’s stock worth $1,774,000 after purchasing an additional 180 shares in the last quarter. Curio Wealth LLC purchased a new position in shares of Visa in the fourth quarter worth $312,000. Cassady Schiller Wealth Management LLC boosted its position in shares of Visa by 4.0% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 2,100 shares of the credit-card processor’s stock valued at $664,000 after buying an additional 81 shares during the last quarter. Finally, TCTC Holdings LLC increased its holdings in Visa by 0.3% in the 4th quarter. TCTC Holdings LLC now owns 29,448 shares of the credit-card processor’s stock worth $9,307,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Barclays upped their target price on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. William Blair restated an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. 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. Finally, Wells Fargo & Company lifted their price objective on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $353.96.

Visa Stock Up 0.8 %

V opened at $334.35 on Tuesday. The stock has a market cap of $621.15 billion, a price-to-earnings ratio of 33.70, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. 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’s fifty day moving average is $338.39 and its 200 day moving average is $311.61. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $366.54.

Visa (NYSE:V) last announced its quarterly earnings data 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%. On average, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.71%. Visa’s payout ratio is 23.79%.

Insider Buying and Selling at Visa

In other news, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the sale, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at approximately $1,569,094.56. The trade was a 34.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $8,642,333.60. The trade was a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,855 shares of company stock valued at $35,165,827 in the last three months. 0.13% of the stock is currently owned by corporate 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.