Lederer & Associates Investment Counsel CA Trims Stock Position in Visa Inc. (NYSE:V)

Lederer & Associates Investment Counsel CA reduced its holdings in Visa Inc. (NYSE:V) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,288 shares of the credit-card processor’s stock after selling 314 shares during the quarter. Visa accounts for about 2.5% of Lederer & Associates Investment Counsel CA’s investment portfolio, making the stock its 7th largest holding. Lederer & Associates Investment Counsel CA’s holdings in Visa were worth $3,567,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. State Street Corp raised its stake in shares of Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after purchasing an additional 3,327,977 shares during the period. FMR LLC grew its holdings in shares of Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after buying an additional 3,265,518 shares in the last quarter. Geode Capital Management LLC raised its position 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 valued at $10,601,135,000 after buying an additional 2,772,549 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Visa by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock valued at $3,188,862,000 after acquiring an additional 123,927 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Visa by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock worth $3,168,096,000 after acquiring an additional 670,590 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

Visa stock opened at $349.27 on Thursday. The company has a market capitalization of $650.64 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 2.30 and a beta of 0.97. The stock’s 50 day moving average is $319.07 and its 200-day moving average is $294.37. The company has a current ratio of 1.12, a quick ratio of 1.28 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 $351.25.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS 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%. Equities research analysts expect that Visa Inc. will post 11.2 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is 23.79%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Oppenheimer lifted their price objective on shares of Visa from $375.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and issued a $383.00 price target (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Raymond James restated an “outperform” rating and set a $393.00 price objective (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Robert W. Baird lifted their target price on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Bank of America increased their price target on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $354.73.

Insider Buying and Selling at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,572 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the sale, the general counsel now owns 11,925 shares of the company’s stock, valued at $4,054,500. This represents a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Insiders sold 21,983 shares of company stock valued at $7,213,146 in the last quarter. Company 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.