AGF Management Ltd. Decreases Stock Holdings in Visa Inc. (NYSE:V)

AGF Management Ltd. decreased its holdings in shares of Visa Inc. (NYSE:V) by 25.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 509,633 shares of the credit-card processor’s stock after selling 176,879 shares during the period. AGF Management Ltd.’s holdings in Visa were worth $161,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Decker Retirement Planning Inc. acquired a new stake in shares of Visa during the 4th quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Visa in the fourth quarter valued at approximately $27,000. Peterson Financial Group Inc. acquired a new position in Visa during the third quarter worth $26,000. POM Investment Strategies LLC grew its holdings in Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after acquiring an additional 32 shares during the period. Finally, Modus Advisors LLC acquired a new position in Visa during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Visa stock opened at $341.07 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54. The stock has a market cap of $633.63 billion, a PE ratio of 34.38, a P/E/G ratio of 2.33 and a beta of 0.95. The business’s 50-day moving average price is $336.69 and its two-hundred day moving average price is $309.43.

Visa (NYSE:V) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.69%. Visa’s dividend payout ratio is currently 23.79%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on V shares. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a report on Thursday, February 13th. Barclays upped their price objective on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. William Blair reissued an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Finally, Wells Fargo & Company increased their price objective on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

Insider Activity at Visa

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the business’s 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 transaction, the insider now owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. The trade was a 47.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the transaction, the chief executive officer now directly owns 537 shares in the company, valued at $194,931. This trade represents a 94.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,505 shares of company stock worth $22,290,507 in the last three months. 0.13% of the stock is owned by insiders.

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.