Visa Inc. (NYSE:V) Shares Sold by Spinnaker Trust

by · The Cerbat Gem

Spinnaker Trust lowered its stake in shares of Visa Inc. (NYSE:V – Free Report) by 4.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 28,998 shares of the credit-card processor’s stock after selling 1,356 shares during the period. Spinnaker Trust’s holdings in Visa were worth $6,670,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in V. Moneta Group Investment Advisors LLC lifted its holdings in Visa by 116,608.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock worth $5,090,978,000 after buying an additional 24,483,134 shares in the last quarter. Norges Bank acquired a new stake in Visa during the 4th quarter worth approximately $3,067,232,000. Morgan Stanley lifted its holdings in Visa by 13.0% during the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock worth $10,621,287,000 after buying an additional 5,864,340 shares in the last quarter. Capital World Investors lifted its holdings in Visa by 50.8% during the 2nd quarter. Capital World Investors now owns 16,012,583 shares of the credit-card processor’s stock worth $3,802,668,000 after buying an additional 5,391,512 shares in the last quarter. Finally, Cibc World Markets Corp lifted its holdings in Visa by 1,634.8% during the 2nd quarter. Cibc World Markets Corp now owns 3,938,026 shares of the credit-card processor’s stock worth $935,202,000 after buying an additional 3,711,026 shares in the last quarter. Hedge funds and other institutional investors own 81.35% of the company’s stock.

Visa Stock Performance

Visa stock traded up $0.13 during midday trading on Friday, hitting $277.18. 4,848,891 shares of the company’s stock were exchanged, compared to its average volume of 5,700,432. The stock has a market cap of $509.04 billion, a price-to-earnings ratio of 31.90, a price-to-earnings-growth ratio of 1.91 and a beta of 0.97. The firm’s 50 day simple moving average is $262.39 and its 200 day simple moving average is $248.05. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.45 and a current ratio of 1.45. Visa Inc. has a 12-month low of $208.76 and a 12-month high of $279.99.

Visa (NYSE:V – Get Free Report) last issued its 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. The business had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $8.55 billion. Visa had a net margin of 53.92% and a return on equity of 50.02%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.18 earnings per share. Equities research analysts predict that Visa Inc. will post 9.91 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, February 8th. Visa’s payout ratio is 23.94%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Raymond James raised their price objective on shares of Visa from $287.00 to $311.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Monness Crespi & Hardt assumed coverage on shares of Visa in a report on Wednesday, December 20th. They issued a “neutral” rating on the stock. BMO Capital Markets assumed coverage on shares of Visa in a report on Tuesday, December 5th. They issued an “outperform” rating and a $280.00 price objective on the stock. Seaport Res Ptn restated a “neutral” rating on shares of Visa in a report on Thursday, October 12th. Finally, Royal Bank of Canada raised their price objective on shares of Visa from $290.00 to $309.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $290.55.

Get Our Latest Research Report on Visa

Insider Activity

In related news, insider Rajat Taneja sold 9,200 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $250.01, for a total transaction of $2,300,092.00. Following the sale, the insider now owns 232,112 shares of the company’s stock, valued at $58,030,321.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $255.79, for a total transaction of $2,084,688.50. Following the sale, the chief executive officer now owns 29,152 shares of the company’s stock, valued at $7,456,790.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Rajat Taneja sold 9,200 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $250.01, for a total transaction of $2,300,092.00. Following the sale, the insider now directly owns 232,112 shares in the company, valued at approximately $58,030,321.12. The disclosure for this sale can be found here. Insiders have sold a total of 86,707 shares of company stock valued at $22,738,021 over the last quarter. Corporate insiders own 0.19% of the company’s stock.

Visa Profile

(Free Report)

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.

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