Great Diamond Partners LLC Sells 39 Shares of Visa Inc. (NYSE:V)

Great Diamond Partners LLC lessened its stake in shares of Visa Inc. (NYSE:V) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,123 shares of the credit-card processor’s stock after selling 39 shares during the quarter. Great Diamond Partners LLC’s holdings in Visa were worth $2,375,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Altshuler Shaham Ltd bought a new position in shares of Visa in the third quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of Visa during the fourth quarter worth approximately $32,000. Valued Wealth Advisors LLC bought a new stake in shares of Visa in the fourth quarter valued at approximately $37,000. Delos Wealth Advisors LLC grew its stake in shares of Visa by 2,500.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 156 shares of the credit-card processor’s stock worth $41,000 after acquiring an additional 150 shares during the last quarter. Finally, Advantage Trust Co bought a new position in Visa during the fourth quarter worth $52,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.8 %

Shares of NYSE:V traded up $2.20 during midday trading on Friday, reaching $280.74. 8,986,581 shares of the company were exchanged, compared to its average volume of 7,008,364. The firm has a market cap of $513.46 billion, a PE ratio of 31.37, a P/E/G ratio of 1.91 and a beta of 0.95. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a fifty-two week low of $216.14 and a fifty-two week high of $290.96. The stock has a fifty day simple moving average of $277.51 and a two-hundred day simple moving average of $266.87.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. During the same quarter last year, the firm earned $2.09 EPS. Visa’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be paid a $0.52 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.74%. Visa’s dividend payout ratio is 23.24%.

Insider Transactions at Visa

In other Visa news, Director Lloyd Carney sold 909 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $150,833.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lloyd Carney sold 909 shares of the company’s 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 of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on V. Evercore ISI upped their price target on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. UBS Group lifted their price target on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Mizuho increased their price objective on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Citigroup raised their price objective on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada upped their target price on shares of Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $303.00.

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.