Manchester Financial Inc. Lowers Stock Position in Visa Inc. (NYSE:V)

Manchester Financial Inc. reduced its stake in Visa Inc. (NYSE:V) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,847 shares of the credit-card processor’s stock after selling 271 shares during the quarter. Visa comprises approximately 0.9% of Manchester Financial Inc.’s portfolio, making the stock its 21st biggest holding. Manchester Financial Inc.’s holdings in Visa were worth $4,060,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of V. Creative Planning raised its stake in Visa by 2.4% in the third quarter. Creative Planning now owns 566,729 shares of the credit-card processor’s stock valued at $155,822,000 after purchasing an additional 13,318 shares in the last quarter. Swedbank AB raised its stake in shares of Visa by 10.7% during the third quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock worth $566,153,000 after acquiring an additional 199,440 shares in the last quarter. Howard Capital Management Group LLC raised its stake in shares of Visa by 0.6% during the third quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock worth $29,242,000 after acquiring an additional 610 shares in the last quarter. Kozak & Associates Inc. raised its stake in shares of Visa by 4.7% during the third quarter. Kozak & Associates Inc. now owns 3,713 shares of the credit-card processor’s stock worth $1,068,000 after acquiring an additional 168 shares in the last quarter. Finally, BCS Wealth Management raised its stake in shares of Visa by 42.0% during the third quarter. BCS Wealth Management now owns 2,264 shares of the credit-card processor’s stock worth $623,000 after acquiring an additional 670 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on V. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets lifted their price target on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup lifted their price target on shares of Visa from $354.00 to $393.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on shares of Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Macquarie lifted their target price on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $354.73.

Insider Activity at Visa

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the sale, the insider now directly owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the transaction, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at $1,569,094.56. This represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,056 shares of company stock worth $19,830,050. Corporate insiders own 0.13% of the company’s stock.

Visa Price Performance

Shares of NYSE:V opened at $353.73 on Friday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $356.08. The firm has a market cap of $657.15 billion, a price-to-earnings ratio of 35.66, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.28 and a current ratio of 1.12. The business has a 50-day simple moving average of $325.14 and a two-hundred day simple moving average of $298.94.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, analysts expect that Visa Inc. will post 11.27 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. Visa’s dividend payout ratio is currently 23.79%.

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.