Cary Street Partners Investment Advisory LLC Sells 7,747 Shares of Visa Inc. (NYSE:V)

Cary Street Partners Investment Advisory LLC reduced its position in shares of Visa Inc. (NYSE:V) by 55.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,250 shares of the credit-card processor’s stock after selling 7,747 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Visa were worth $1,627,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new position in shares of Visa during the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new stake in shares of Visa in the 4th quarter worth about $32,000. Valued Wealth Advisors LLC purchased a new position in shares of Visa during the 4th quarter worth about $37,000. Stuart Chaussee & Associates Inc. grew its holdings in Visa by 66.2% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 236 shares of the credit-card processor’s stock valued at $61,000 after purchasing an additional 94 shares during the last quarter. Finally, Life Planning Partners Inc purchased a new stake in Visa in the 4th quarter worth about $71,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Visa news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,874 shares of company stock worth $5,506,827. 0.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on V. Mizuho reaffirmed a “neutral” rating and issued a $265.00 price target on shares of Visa in a research note on Wednesday, March 27th. Barclays boosted their price target on Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Keefe, Bruyette & Woods lifted their target price on Visa from $305.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. UBS Group increased their price target on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Evercore ISI increased their target price on shares of Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $302.58.

Visa Stock Performance

NYSE V traded down $1.26 on Tuesday, reaching $270.58. 2,119,094 shares of the company’s stock traded hands, compared to its average volume of 5,883,054. The stock has a 50 day moving average price of $279.11 and a 200-day moving average price of $264.97. The firm has a market cap of $496.92 billion, a price-to-earnings ratio of 30.22, a P/E/G ratio of 1.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. Visa Inc. has a fifty-two week low of $216.14 and a fifty-two week high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. Visa’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 earnings per share. Equities research analysts predict that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. Visa’s payout ratio is 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.