Pittenger & Anderson Inc. Has $26.83 Million Stake in Visa Inc. (NYSE:V)

Pittenger & Anderson Inc. reduced its holdings in Visa Inc. (NYSE:V) by 0.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,058 shares of the credit-card processor’s stock after selling 126 shares during the quarter. Visa accounts for about 1.2% of Pittenger & Anderson Inc.’s investment portfolio, making the stock its 18th largest holding. Pittenger & Anderson Inc.’s holdings in Visa were worth $26,831,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of V. GoalVest Advisory LLC boosted its holdings in Visa by 3.4% in the fourth quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock worth $317,000 after acquiring an additional 40 shares in the last quarter. Destiny Wealth Partners LLC boosted its holdings in Visa by 2.5% in the fourth quarter. Destiny Wealth Partners LLC now owns 1,668 shares of the credit-card processor’s stock worth $433,000 after acquiring an additional 40 shares in the last quarter. Sunflower Bank N.A. boosted its holdings in Visa by 1.3% in the fourth quarter. Sunflower Bank N.A. now owns 3,143 shares of the credit-card processor’s stock worth $818,000 after acquiring an additional 41 shares in the last quarter. Parker Financial LLC boosted its holdings in Visa by 4.8% in the fourth quarter. Parker Financial LLC now owns 925 shares of the credit-card processor’s stock worth $241,000 after acquiring an additional 42 shares in the last quarter. Finally, Patron Partners LLC boosted its holdings in Visa by 1.0% in the fourth quarter. Patron Partners LLC now owns 4,295 shares of the credit-card processor’s stock worth $1,118,000 after acquiring an additional 42 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on V. Robert W. Baird increased their price target on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Mizuho reissued a “neutral” rating and issued a $265.00 price objective on shares of Visa in a research note on Wednesday, March 27th. Raymond James increased their price objective on Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday. Finally, Susquehanna increased their price objective on Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a research note on Friday, January 26th. Five analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $302.58.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $150,833.68. The disclosure for this sale can be found here. Insiders sold 18,965 shares of company stock valued at $5,256,352 over the last three months. Company insiders own 0.19% of the company’s stock.

Visa Stock Performance

NYSE:V traded down $0.46 during trading hours on Friday, reaching $274.70. The stock had a trading volume of 1,736,826 shares, compared to its average volume of 5,888,219. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.45 and a current ratio of 1.40. The stock has a 50 day simple moving average of $279.32 and a 200 day simple moving average of $264.05. Visa Inc. has a 12-month low of $216.14 and a 12-month high of $290.96. The stock has a market cap of $504.49 billion, a P/E ratio of 30.75, a price-to-earnings-growth ratio of 1.90 and a beta of 0.96.

Visa (NYSE:V) last released its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same period last year, the business posted $2.09 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, research analysts forecast that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, May 16th. Visa’s payout ratio is currently 23.24%.

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.