Ocean Capital Management LLC Sells 235 Shares of Visa Inc. (NYSE:V)

Ocean Capital Management LLC cut its holdings in shares of Visa Inc. (NYSE:V) by 1.2% in the 4th quarter, Holdings Channel reports. The firm owned 18,724 shares of the credit-card processor’s stock after selling 235 shares during the period. Visa accounts for about 2.0% of Ocean Capital Management LLC’s holdings, making the stock its 11th largest position. Ocean Capital Management LLC’s holdings in Visa were worth $4,875,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of V. Austin Private Wealth LLC lifted its position in Visa by 11.7% in the 4th quarter. Austin Private Wealth LLC now owns 5,031 shares of the credit-card processor’s stock valued at $1,310,000 after acquiring an additional 526 shares in the last quarter. AMI Investment Management Inc. lifted its position in shares of Visa by 10.2% during the 4th quarter. AMI Investment Management Inc. now owns 14,552 shares of the credit-card processor’s stock worth $3,789,000 after buying an additional 1,346 shares in the last quarter. Yarger Wealth Strategies LLC lifted its position in shares of Visa by 9.3% during the 4th quarter. Yarger Wealth Strategies LLC now owns 1,472 shares of the credit-card processor’s stock worth $383,000 after buying an additional 125 shares in the last quarter. Strong Tower Advisory Services lifted its position in shares of Visa by 1.2% during the 4th quarter. Strong Tower Advisory Services now owns 17,430 shares of the credit-card processor’s stock worth $4,538,000 after buying an additional 202 shares in the last quarter. Finally, Transform Wealth LLC lifted its position in shares of Visa by 0.6% during the 4th quarter. Transform Wealth LLC now owns 14,043 shares of the credit-card processor’s stock worth $3,656,000 after buying an additional 87 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Activity at Visa

In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the sale, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Rajat Taneja sold 36,546 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $270.20, for a total value of $9,874,729.20. Following the completion of the sale, the insider now owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,311 shares of company stock worth $12,832,129. 0.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Susquehanna lifted their target price on shares of Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a research report on Friday, January 26th. Raymond James lifted their price target on shares of Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Keefe, Bruyette & Woods lifted their price objective on shares of Visa from $305.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Barclays lifted their price objective on shares of Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Finally, Monness Crespi & Hardt assumed coverage on shares of Visa in a research note on Wednesday, December 20th. They issued a “neutral” rating for the company. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $295.82.

Visa Stock Performance

Shares of Visa stock traded down $0.24 on Thursday, hitting $278.78. 5,844,191 shares of the company’s stock were exchanged, compared to its average volume of 5,650,746. The company has a 50-day simple moving average of $279.11 and a 200-day simple moving average of $258.66. The stock has a market capitalization of $511.98 billion, a PE ratio of 32.16, a PEG ratio of 1.94 and a beta of 0.96. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.45 and a current ratio of 1.45.

Visa (NYSE:V) last released its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.07. Visa had a net margin of 53.92% and a return on equity of 50.02%. The company had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.55 billion. During the same quarter in the previous year, the company earned $2.18 EPS. Visa’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities analysts anticipate that Visa Inc. will post 9.89 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Thursday, February 8th. Visa’s dividend payout ratio (DPR) is 23.94%.

About Visa

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.