Crestline Management LP Sells 11,185 Shares of Visa Inc. (NYSE:V)

Crestline Management LP trimmed its holdings in Visa Inc. (NYSE:V) by 27.0% in the 4th quarter, Holdings Channel reports. The fund owned 30,175 shares of the credit-card processor’s stock after selling 11,185 shares during the quarter. Crestline Management LP’s holdings in Visa were worth $9,537,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Decker Retirement Planning Inc. purchased a new position in shares of Visa in the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in Visa in the fourth quarter worth approximately $27,000. POM Investment Strategies LLC increased its stake in shares of Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares in the last quarter. Compass Planning Associates Inc bought a new position in Visa in the 4th quarter worth $32,000. Finally, NewSquare Capital LLC bought a new stake in Visa during the fourth quarter valued at about $35,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Up 0.3 %

Visa stock opened at $348.67 on Tuesday. The stock’s 50 day simple moving average is $337.57 and its two-hundred day simple moving average is $325.48. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The firm has a market cap of $647.75 billion, a PE ratio of 35.15, a P/E/G ratio of 2.33 and a beta of 0.96. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.51 earnings per share. Analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business 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 0.68%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa’s dividend payout ratio is presently 23.72%.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 39,350 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at $8,642,333.60. This trade represents a 59.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the sale, the insider now owns 36,566 shares in the company, valued at $12,789,689.82. This represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,208 shares of company stock worth $48,905,978. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Evercore ISI assumed coverage on Visa in a research report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price objective on the stock. Piper Sandler increased their price objective on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Macquarie dropped their price target on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. William Blair reissued an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Finally, StockNews.com downgraded shares of Visa from a “buy” rating to a “hold” rating in a report on Wednesday, April 16th. Seven investment analysts have rated the stock with a hold rating, twenty 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 $362.38.

Visa Company 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.