Klingman & Associates LLC Sells 1,706 Shares of Visa Inc. (NYSE:V)

Klingman & Associates LLC lessened its holdings in Visa Inc. (NYSE:V) by 18.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,608 shares of the credit-card processor’s stock after selling 1,706 shares during the period. Klingman & Associates LLC’s holdings in Visa were worth $2,404,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Davidson Investment Advisors grew its position in Visa by 1.7% in the 4th quarter. Davidson Investment Advisors now owns 86,830 shares of the credit-card processor’s stock valued at $27,442,000 after acquiring an additional 1,459 shares during the last quarter. Ramsay Stattman Vela & Price Inc. grew its position in shares of Visa by 0.3% during the 4th quarter. Ramsay Stattman Vela & Price Inc. now owns 55,644 shares of the credit-card processor’s stock worth $17,586,000 after buying an additional 192 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its position in shares of Visa by 13.7% during the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,408 shares of the credit-card processor’s stock worth $445,000 after buying an additional 170 shares in the last quarter. Valley Wealth Managers Inc. grew its position in shares of Visa by 12.7% during the 4th quarter. Valley Wealth Managers Inc. now owns 5,017 shares of the credit-card processor’s stock worth $1,586,000 after buying an additional 564 shares in the last quarter. Finally, BKM Wealth Management LLC bought a new position in shares of Visa during the 4th quarter worth $290,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 1.3 %

Shares of NYSE:V opened at $350.45 on Friday. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $357.15. The stock has a market cap of $651.05 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 2.37 and a beta of 0.97. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average price of $328.47 and a 200-day moving average price of $301.39.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping 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%. Equities analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

Insider Activity at Visa

In other Visa news, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.62, 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. This trade represents a 34.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,885 shares of company stock worth $19,161,447. 0.13% of the stock is owned by corporate insiders.

Analyst Ratings Changes

V has been the topic of a number of recent research reports. Citigroup increased their price target on Visa from $354.00 to $393.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Oppenheimer increased their price target on Visa from $375.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Raymond James reissued an “outperform” rating and set a $393.00 price target (up previously from $374.00) on shares of Visa in a research report on Friday, January 31st. Finally, UBS Group raised their price objective on Visa from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus target price of $354.73.

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.