Steel Grove Capital Advisors LLC Cuts Stock Holdings in Visa Inc. (NYSE:V)

Steel Grove Capital Advisors LLC reduced its stake in Visa Inc. (NYSE:V) by 26.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,917 shares of the credit-card processor’s stock after selling 1,029 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Visa were worth $759,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Hibernia Wealth Partners LLC bought a new position in Visa in the 3rd quarter valued at $25,000. Altshuler Shaham Ltd purchased a new position in shares of Visa in the 3rd quarter worth about $25,000. West Tower Group LLC bought a new position in Visa during the second quarter valued at about $30,000. Financial Freedom LLC purchased a new stake in Visa during the fourth quarter worth about $32,000. Finally, Nalls Sherbakoff Group LLC increased its holdings in Visa by 545.5% during the third quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock worth $33,000 after buying an additional 120 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

V has been the subject of several recent analyst reports. Monness Crespi & Hardt started coverage on Visa in a research report on Wednesday, December 20th. They set a “neutral” rating for the company. Redburn Atlantic reiterated a “neutral” rating and issued a $307.00 price target on shares of Visa in a research note on Wednesday. Keefe, Bruyette & Woods boosted their price objective on shares of Visa from $305.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Wells Fargo & Company raised their target price on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Finally, Evercore ISI upped their price target on Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $295.82.

Visa Stock Performance

Shares of V traded up $0.57 during mid-day trading on Thursday, hitting $279.59. 2,670,151 shares of the company traded hands, compared to its average volume of 5,597,521. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a 50-day moving average price of $278.86 and a two-hundred day moving average price of $258.51. The stock has a market cap of $513.47 billion, a price-to-earnings ratio of 32.09, a P/E/G ratio of 1.94 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.07. Visa had a return on equity of 50.02% and a net margin of 53.92%. The firm had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.55 billion. During the same period in the prior year, the firm earned $2.18 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. Equities analysts anticipate that Visa Inc. will post 9.89 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Thursday, February 8th. Visa’s payout ratio is currently 23.94%.

Insider Transactions at Visa

In other news, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Peter M. Andreski sold 2,615 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the transaction, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The disclosure for this sale can be found here. Insiders have sold 47,311 shares of company stock worth $12,832,129 in the last quarter. Company insiders own 0.19% 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.