Sheets Smith Wealth Management Sells 192 Shares of Visa Inc. (NYSE:V)

Sheets Smith Wealth Management trimmed its position in Visa Inc. (NYSE:V) by 0.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 56,379 shares of the credit-card processor’s stock after selling 192 shares during the period. Visa makes up about 2.2% of Sheets Smith Wealth Management’s holdings, making the stock its 7th largest holding. Sheets Smith Wealth Management’s holdings in Visa were worth $17,818,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Peterson Financial Group Inc. acquired a new stake in shares of Visa in the third quarter worth $26,000. Decker Retirement Planning Inc. bought a new stake in Visa in the 4th quarter valued at $26,000. Reston Wealth Management LLC acquired a new stake in Visa in the 3rd quarter worth $31,000. Modus Advisors LLC bought a new position in shares of Visa during the 4th quarter worth about $32,000. Finally, West Financial Advisors LLC increased its holdings in shares of Visa by 101.4% during the 3rd 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 period. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Up 1.4 %

Shares of NYSE V opened at $328.18 on Friday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $328.51. The firm’s 50-day simple moving average is $314.14 and its 200 day simple moving average is $289.71. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a market cap of $611.36 billion, a price-to-earnings ratio of 33.73, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96.

Visa (NYSE:V) last announced 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. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the prior year, the business earned $2.33 earnings per share. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. On average, research analysts expect that Visa Inc. will post 11.2 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is 24.25%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Mizuho lifted their target price on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Piper Sandler lifted their price objective on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Citigroup boosted their price objective on Visa from $326.00 to $354.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Jefferies Financial Group raised their target price on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their price target on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $332.81.

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.