Fagan Associates Inc. Reduces Stake in Visa Inc. (NYSE:V)

Fagan Associates Inc. trimmed its stake in Visa Inc. (NYSE:V) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,183 shares of the credit-card processor’s stock after selling 313 shares during the quarter. Visa makes up 1.9% of Fagan Associates Inc.’s holdings, making the stock its 13th biggest position. Fagan Associates Inc.’s holdings in Visa were worth $11,751,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Peterson Financial Group Inc. bought a new stake in shares of Visa in the third quarter valued at approximately $26,000. Decker Retirement Planning Inc. bought a new stake in shares of Visa in the fourth quarter valued at approximately $26,000. Reston Wealth Management LLC bought a new stake in shares of Visa in the third quarter valued at approximately $31,000. POM Investment Strategies LLC raised its position in shares of Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after purchasing an additional 32 shares during the period. Finally, Modus Advisors LLC bought a new stake in shares of Visa in the fourth quarter valued at approximately $32,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on V shares. The Goldman Sachs Group boosted their price target on shares of Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Bank of America boosted their price target on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Morgan Stanley upped their target price on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $383.00 target price (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $355.31.

Insiders Place Their Bets

In other Visa news, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.62, for a total value of $815,313.84. Following the sale, the chief accounting officer now owns 4,488 shares of the company’s stock, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,885 shares of company stock valued at $19,161,447 in the last quarter. Insiders own 0.13% of the company’s stock.

Visa Price Performance

V stock opened at $348.27 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $357.15. The firm’s fifty day moving average is $329.14 and its 200 day moving average is $302.03. The firm has a market cap of $647.01 billion, a P/E ratio of 35.11, a P/E/G ratio of 2.36 and a beta of 0.97.

Visa (NYSE:V) last released its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

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.