Resonant Capital Advisors LLC Sells 1,413 Shares of Visa Inc. (NYSE:V)

Resonant Capital Advisors LLC trimmed its holdings in Visa Inc. (NYSE:V) by 8.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,858 shares of the credit-card processor’s stock after selling 1,413 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Visa were worth $4,129,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zhang Financial LLC increased its position in Visa by 9.4% in the fourth quarter. Zhang Financial LLC now owns 4,987 shares of the credit-card processor’s stock worth $1,298,000 after purchasing an additional 427 shares during the period. Ninepoint Partners LP increased its position in Visa by 6.3% in the fourth quarter. Ninepoint Partners LP now owns 2,899 shares of the credit-card processor’s stock worth $755,000 after purchasing an additional 172 shares during the period. Knights of Columbus Asset Advisors LLC increased its position in Visa by 1.1% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 75,421 shares of the credit-card processor’s stock worth $19,636,000 after purchasing an additional 795 shares during the period. Cornerstone Investment Partners LLC increased its position in Visa by 9.1% in the fourth quarter. Cornerstone Investment Partners LLC now owns 240,046 shares of the credit-card processor’s stock worth $62,496,000 after purchasing an additional 20,109 shares during the period. Finally, Andrew Hill Investment Advisors Inc. acquired a new stake in Visa in the fourth quarter worth about $3,427,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Down 0.6 %

NYSE V opened at $269.78 on Friday. The stock has a market capitalization of $495.45 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 1.86 and a beta of 0.96. The stock’s 50 day moving average price is $279.58 and its two-hundred day moving average price is $263.12. 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 52 week low of $216.14 and a 52 week high of $290.96.

Visa (NYSE:V) last released its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 EPS for the quarter, beating the consensus estimate of $2.34 by $0.07. The firm had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.55 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. 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 business posted $2.18 EPS. As a group, analysts anticipate that Visa Inc. will post 9.88 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.77%. The ex-dividend date was Thursday, February 8th. Visa’s payout ratio is 23.94%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on V. TD Cowen began coverage on Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price for the company. KeyCorp boosted their target price on Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. Barclays boosted their target price on Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Royal Bank of Canada boosted their target price on Visa from $290.00 to $309.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Finally, UBS Group boosted their target price on Visa from $305.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $298.43.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the sale, the chief accounting officer now owns 4,898 shares in the company, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,965 shares of company stock worth $5,256,352. Corporate 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.