Breakwater Capital Group Lowers Stock Holdings in Visa Inc. (NYSE:V)

Breakwater Capital Group reduced its position in Visa Inc. (NYSE:V) by 1.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,339 shares of the credit-card processor’s stock after selling 46 shares during the period. Breakwater Capital Group’s holdings in Visa were worth $1,055,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its position in Visa by 45,189.4% during the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after purchasing an additional 9,736,958 shares during the period. SG Americas Securities LLC boosted its position in Visa by 4,412.3% during the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after purchasing an additional 4,166,905 shares during the period. State Street Corp lifted its holdings in Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after buying an additional 3,327,977 shares in the last quarter. FMR LLC lifted its holdings in Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after buying an additional 3,265,518 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Visa by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after buying an additional 2,772,549 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on V shares. Robert W. Baird upped their target price on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Jefferies Financial Group boosted their price objective on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Mizuho boosted their price objective on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $331.92.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the business’s 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 completion of 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 position. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Visa Stock Up 0.8 %

NYSE:V opened at $309.24 on Wednesday. The firm has a market capitalization of $576.08 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 2.11 and a beta of 0.96. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $321.61. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The business’s fifty day moving average price is $312.76 and its 200 day moving average price is $287.65.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.33 earnings per share. On average, sell-side analysts forecast that Visa Inc. will post 11.23 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.76%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

Visa Company 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.