London Co. of Virginia Sells 8,620 Shares of Visa Inc. (NYSE:V)

London Co. of Virginia trimmed its position in Visa Inc. (NYSE:V) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 311,845 shares of the credit-card processor’s stock after selling 8,620 shares during the period. London Co. of Virginia’s holdings in Visa were worth $98,555,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Riverstone Advisors LLC bought a new position in shares of Visa in the fourth quarter worth approximately $217,000. Blue Rock Wealth Management LLC bought a new position in shares of Visa in the fourth quarter worth approximately $306,000. Aptus Capital Advisors LLC increased its position in shares of Visa by 19.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock worth $57,727,000 after purchasing an additional 30,185 shares during the last quarter. Journey Strategic Wealth LLC increased its position in shares of Visa by 16.4% in the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after purchasing an additional 1,361 shares during the last quarter. Finally, King Wealth Management Group grew its position in Visa by 9.0% during the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after acquiring an additional 6,172 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Performance

Shares of Visa stock opened at $352.95 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $655.70 billion, a P/E ratio of 35.58, a P/E/G ratio of 2.33 and a beta of 0.96. The business has a fifty day simple moving average of $336.98 and a two-hundred day simple moving average of $327.32. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.51 earnings per share. On average, equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on V shares. JPMorgan Chase & Co. raised their target price on shares of Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Wells Fargo & Company raised their target price on shares of Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. The Goldman Sachs Group raised their target price on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Evercore ISI started coverage on shares of Visa in a report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 target price on the stock. Finally, Citigroup restated a “neutral” rating on shares of Visa in a report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $362.38.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 14,813 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $355.04, for a total value of $5,259,207.52. Following the transaction, the insider now owns 26,413 shares in the company, valued at $9,377,671.52. The trade was a 35.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $194,931. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,948 shares of company stock worth $41,548,282 in the last quarter. Corporate insiders own 0.13% of the company’s stock.

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.