Smith Salley Wealth Management Has $27.80 Million Holdings in Visa Inc. (NYSE:V)

Smith Salley Wealth Management cut its stake in shares of Visa Inc. (NYSE:V) by 23.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,620 shares of the credit-card processor’s stock after selling 31,107 shares during the period. Visa accounts for approximately 2.2% of Smith Salley Wealth Management’s portfolio, making the stock its 10th largest holding. Smith Salley Wealth Management’s holdings in Visa were worth $27,802,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of V. Capital International Investors increased its stake in Visa by 2.7% in the 4th quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock worth $5,973,432,000 after acquiring an additional 596,950 shares during the last quarter. Capital World Investors grew its holdings in shares of Visa by 8.0% during the fourth quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock worth $4,659,169,000 after purchasing an additional 1,323,238 shares in the last quarter. Norges Bank bought a new position in shares of Visa in the fourth quarter worth approximately $3,895,015,000. Jennison Associates LLC raised its stake in Visa by 0.7% in the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after purchasing an additional 85,123 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Visa by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,524,329 shares of the credit-card processor’s stock valued at $2,725,079,000 after purchasing an additional 141,566 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

V has been the topic of a number of research analyst reports. Citigroup increased their price target on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Mizuho increased their target price on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Royal Bank of Canada lifted their price target on Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Redburn Atlantic reiterated a “neutral” rating and set a $307.00 price objective on shares of Visa in a research report on Wednesday, March 27th. Finally, Macquarie boosted their target price on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $304.44.

Insider Transactions at Visa

In related news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Visa Trading Down 1.6 %

Shares of Visa stock traded down $4.36 during midday trading on Wednesday, reaching $261.08. 1,293,589 shares of the company’s stock traded hands, compared to its average volume of 6,796,328. The stock has a 50 day moving average of $273.07 and a 200-day moving average of $274.01. Visa Inc. has a 12 month low of $227.68 and a 12 month high of $290.96. The company has a market cap of $477.50 billion, a PE ratio of 29.23, a price-to-earnings-growth ratio of 1.82 and a beta of 0.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping the consensus estimate of $2.43 by $0.08. The business had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.09 EPS. As a group, equities analysts expect that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.80%. Visa’s dividend payout ratio (DPR) is 23.24%.

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.