Chickasaw Capital Management LLC Has $9 Million Stock Position in Visa Inc. (NYSE:V)

Chickasaw Capital Management LLC lessened its stake in Visa Inc. (NYSE:V) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,467 shares of the credit-card processor’s stock after selling 205 shares during the quarter. Visa comprises 0.4% of Chickasaw Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position. Chickasaw Capital Management LLC’s holdings in Visa were worth $8,997,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Peterson Financial Group Inc. bought a new stake in shares of Visa during the third quarter worth $26,000. Reston Wealth Management LLC bought a new position in Visa in the third quarter valued at about $31,000. Modus Advisors LLC acquired a new stake in shares of Visa during the fourth quarter valued at about $32,000. Fairway Wealth LLC acquired a new position in shares of Visa in the second quarter valued at approximately $39,000. Finally, West Financial Advisors LLC raised its holdings in Visa by 101.4% in the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock valued at $40,000 after buying an additional 73 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on V shares. Royal Bank of Canada lifted their price target on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley raised their price objective on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Oppenheimer increased their price objective on shares of Visa from $321.00 to $375.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, BMO Capital Markets upped their price target on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $329.70.

Visa Stock Performance

Visa stock traded down $1.17 during mid-day trading on Tuesday, reaching $311.87. The company’s stock had a trading volume of 3,232,056 shares, compared to its average volume of 4,800,548. The company has a market capitalization of $580.97 billion, a P/E ratio of 32.05, a PEG ratio of 2.11 and a beta of 0.96. The firm’s fifty day moving average price is $310.30 and its two-hundred day moving average price is $286.01. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $321.61. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the company earned $2.33 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Sell-side analysts predict that Visa Inc. will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a $0.59 dividend. The ex-dividend date was Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.76%. Visa’s dividend payout ratio is currently 24.25%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

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.