Townsend & Associates Inc Reduces Stock Position in Visa Inc. (NYSE:V)

Townsend & Associates Inc decreased its position in shares of Visa Inc. (NYSE:V) by 40.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 840 shares of the credit-card processor’s stock after selling 562 shares during the quarter. Townsend & Associates Inc’s holdings in Visa were worth $228,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of V. National Pension Service grew its holdings in shares of Visa by 2.1% during the fourth quarter. National Pension Service now owns 2,544,721 shares of the credit-card processor’s stock valued at $662,518,000 after buying an additional 52,608 shares during the last quarter. Bogart Wealth LLC increased its holdings in shares of Visa by 3.3% in the 4th quarter. Bogart Wealth LLC now owns 59,808 shares of the credit-card processor’s stock valued at $15,571,000 after purchasing an additional 1,884 shares in the last quarter. Meridian Wealth Advisors LLC raised its stake in Visa by 2.9% in the 4th quarter. Meridian Wealth Advisors LLC now owns 23,950 shares of the credit-card processor’s stock valued at $6,235,000 after purchasing an additional 664 shares during the last quarter. RMR Wealth Builders grew its holdings in shares of Visa by 4.5% during the 4th quarter. RMR Wealth Builders now owns 13,295 shares of the credit-card processor’s stock worth $3,461,000 after purchasing an additional 570 shares during the period. Finally, EdgeRock Capital LLC raised its position in shares of Visa by 67.3% in the 4th quarter. EdgeRock Capital LLC now owns 1,671 shares of the credit-card processor’s stock valued at $463,000 after purchasing an additional 672 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.0 %

V stock traded up $0.01 during mid-day trading on Thursday, reaching $277.20. The company had a trading volume of 2,094,325 shares, compared to its average volume of 5,878,660. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. Visa Inc. has a fifty-two week low of $216.14 and a fifty-two week high of $290.96. The company has a market capitalization of $506.98 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 1.84 and a beta of 0.95. The firm has a fifty day simple moving average of $277.81 and a 200 day simple moving average of $266.37.

Visa (NYSE:V) last released its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. During the same period in the prior year, the firm posted $2.09 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. Analysts forecast that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, May 16th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Redburn Atlantic restated a “neutral” rating and issued a $307.00 price objective on shares of Visa in a research note on Wednesday, March 27th. Royal Bank of Canada lifted their target price on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. TD Cowen began coverage on Visa in a research note on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target on the stock. William Blair reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Finally, Raymond James increased their price objective on Visa from $287.00 to $311.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $303.00.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction dated 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 transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

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.