Tocqueville Asset Management L.P. Reduces Position in Visa Inc. (NYSE:V)

Tocqueville Asset Management L.P. decreased its holdings in Visa Inc. (NYSE:V) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,009 shares of the credit-card processor’s stock after selling 167 shares during the period. Tocqueville Asset Management L.P.’s holdings in Visa were worth $27,814,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of V. Raymond James Financial Inc. purchased a new position in Visa during the 4th quarter valued at about $1,955,403,000. Proficio Capital Partners LLC boosted its position in shares of Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after acquiring an additional 3,926,049 shares during the period. State Street Corp grew its stake in Visa by 4.5% during the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after acquiring an additional 3,327,977 shares in the last quarter. FMR LLC increased its holdings in Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after acquiring an additional 3,265,518 shares during the period. Finally, Geode Capital Management LLC lifted its stake 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 purchasing an additional 2,772,549 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on V shares. Citigroup reaffirmed a “neutral” rating on shares of Visa in a report on Thursday, February 13th. Susquehanna upped their target price on Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Piper Sandler restated an “overweight” rating and issued a $383.00 price objective (up from $368.00) on shares of Visa in a research report on Friday, January 31st. Finally, Raymond James reiterated an “outperform” rating and set a $393.00 target price (up from $374.00) on shares of Visa in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $353.96.

Visa Stock Up 0.8 %

NYSE V opened at $334.35 on Tuesday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The stock has a market capitalization of $621.15 billion, a PE ratio of 33.70, a PEG ratio of 2.33 and a beta of 0.95. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The business’s 50-day moving average is $338.39 and its 200 day moving average is $311.61.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping 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%. Sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.71%. Visa’s dividend payout ratio is 23.79%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the sale, the insider now directly owns 26,413 shares in the company, valued at approximately $8,642,333.60. The trade was a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,855 shares of company stock valued at $35,165,827. Corporate insiders own 0.13% of the company’s stock.

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.