Soroban Capital Partners LP Sells 46,395 Shares of Visa Inc. (NYSE:V)

Soroban Capital Partners LP lowered its position in Visa Inc. (NYSE:V) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,020,679 shares of the credit-card processor’s stock after selling 46,395 shares during the quarter. Visa accounts for approximately 8.6% of Soroban Capital Partners LP’s investment portfolio, making the stock its 3rd largest position. Soroban Capital Partners LP’s holdings in Visa were worth $638,615,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in V. Regent Peak Wealth Advisors LLC raised its stake in Visa by 2.5% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 4,927 shares of the credit-card processor’s stock worth $1,557,000 after buying an additional 121 shares during the last quarter. Capital & Planning LLC raised its position in shares of Visa by 21.2% in the 4th quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor’s stock worth $300,000 after acquiring an additional 166 shares in the last quarter. Woodstock Corp raised its position in shares of Visa by 0.6% in the 4th quarter. Woodstock Corp now owns 36,844 shares of the credit-card processor’s stock worth $11,644,000 after acquiring an additional 218 shares in the last quarter. Yarger Wealth Strategies LLC lifted its stake in shares of Visa by 14.0% in the 4th quarter. Yarger Wealth Strategies LLC now owns 2,309 shares of the credit-card processor’s stock valued at $730,000 after purchasing an additional 283 shares during the period. Finally, Procyon Advisors LLC boosted its position in shares of Visa by 4.5% during the 4th quarter. Procyon Advisors LLC now owns 68,681 shares of the credit-card processor’s stock valued at $21,706,000 after purchasing an additional 2,943 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the sale, the chief executive officer now owns 537 shares of the company’s stock, valued at approximately $188,186.28. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the transaction, the insider now owns 26,413 shares in the company, valued at approximately $8,642,333.60. This trade represents a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,948 shares of company stock worth $41,548,282. 0.13% of the stock is owned by company insiders.

Visa Price Performance

Shares of NYSE V opened at $365.23 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 stock has a fifty day simple moving average of $338.59 and a two-hundred day simple moving average of $329.89. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54. The firm has a market cap of $673.90 billion, a price-to-earnings ratio of 36.82, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period last year, the firm earned $2.51 EPS. Visa’s revenue for the quarter was up 9.3% on a year-over-year basis. 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. Stockholders of record on Tuesday, May 13th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is presently 23.72%.

Analysts Set New Price Targets

Several research firms have recently weighed in on V. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Susquehanna restated a “positive” rating on shares of Visa in a report on Friday, March 21st. Barclays lifted their price target on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Macquarie cut their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $362.38.

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.