Financiere des Professionnels Fonds d investissement inc. Sells 1,255 Shares of Visa Inc. (NYSE:V)

Financiere des Professionnels Fonds d investissement inc. cut its position in Visa Inc. (NYSE:V) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 70,610 shares of the credit-card processor’s stock after selling 1,255 shares during the period. Visa makes up 1.6% of Financiere des Professionnels Fonds d investissement inc.’s holdings, making the stock its 10th largest position. Financiere des Professionnels Fonds d investissement inc.’s holdings in Visa were worth $22,316,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC grew its holdings in Visa by 45,189.4% during the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after acquiring an additional 9,736,958 shares during the period. State Street Corp grew its holdings 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 worth $21,064,179,000 after acquiring an additional 3,327,977 shares during the period. FMR LLC grew its holdings in Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after acquiring an additional 3,265,518 shares during the period. Geode Capital Management LLC grew its holdings 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 worth $10,601,135,000 after acquiring an additional 2,772,549 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Visa during the third quarter worth about $268,640,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the firm’s stock in a transaction 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 sale, the insider now owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 58,056 shares of company stock valued at $19,830,050 over the last quarter. 0.13% of the stock is owned by insiders.

Visa Stock Performance

Shares of Visa stock opened at $354.95 on Thursday. Visa Inc. has a one year low of $252.70 and a one year high of $357.15. The company has a market cap of $659.42 billion, a price-to-earnings ratio of 35.78, a PEG ratio of 2.35 and a beta of 0.97. 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 business’s 50 day moving average price is $327.75 and its 200 day moving average price is $301.05.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.66%. Visa’s dividend payout ratio (DPR) is 23.79%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on V shares. Wells Fargo & Company raised their target price on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Citigroup raised their price objective on Visa from $354.00 to $393.00 and gave the company a “buy” rating in a report on Friday, January 31st. Piper Sandler reissued an “overweight” rating and issued a $383.00 price objective (up from $368.00) on shares of Visa in a report on Friday, January 31st. Jefferies Financial Group raised their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Susquehanna raised their price objective on Visa from $375.00 to $395.00 and gave the company a “positive” rating in a report on Friday, January 31st. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $354.73.

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.