Visa Inc. (NYSE:V) Shares Sold by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC cut 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 and Exchange Commission. The institutional investor owned 28,467 shares of the credit-card processor’s stock after selling 205 shares during the period. Visa makes up approximately 0.4% of Chickasaw Capital Management LLC’s holdings, making the stock its 22nd largest holding. Chickasaw Capital Management LLC’s holdings in Visa were worth $8,997,000 at the end of the most recent reporting period.

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

Visa Trading Down 0.4 %

Shares of NYSE V traded down $1.17 during midday trading on Tuesday, hitting $311.87. The stock had a trading volume of 3,232,056 shares, compared to its average volume of 4,800,548. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $321.61. The firm has a market cap of $580.97 billion, a P/E ratio of 32.05, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The company’s 50-day simple moving average is $310.30 and its 200 day simple moving average is $286.01.

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

Visa Increases Dividend

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

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the company’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 sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’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 disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

V has been the topic of several research analyst reports. Morgan Stanley lifted their price objective on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Wells Fargo & Company raised their target price on shares of Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday. Piper Sandler upped their price target on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. TD Cowen boosted their price objective on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $329.70.

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.