Rempart Asset Management Inc. Has $26.33 Million Position in Visa Inc. (NYSE:V)

Rempart Asset Management Inc. cut its holdings in Visa Inc. (NYSE:V) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,303 shares of the credit-card processor’s stock after selling 2,132 shares during the quarter. Visa makes up approximately 5.2% of Rempart Asset Management Inc.’s holdings, making the stock its 4th largest holding. Rempart Asset Management Inc.’s holdings in Visa were worth $26,327,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Peterson Financial Group Inc. bought a new stake in shares of Visa during the third quarter valued at approximately $26,000. Reston Wealth Management LLC purchased a new stake in Visa in the third quarter worth about $31,000. Modus Advisors LLC bought a new position in Visa during the 4th quarter valued at approximately $32,000. Fairway Wealth LLC bought a new position in shares of Visa during the second quarter valued at $39,000. Finally, West Financial Advisors LLC raised its position in shares of Visa by 101.4% in 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 last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

V stock traded up $1.23 during midday trading on Wednesday, hitting $312.90. 865,626 shares of the stock traded hands, compared to its average volume of 4,350,646. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $321.61. The stock’s fifty day simple moving average is $310.90 and its 200-day simple moving average is $286.27. The firm has a market cap of $582.89 billion, a P/E ratio of 32.16, a PEG ratio of 2.11 and a beta of 0.96.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.33 earnings per share. On average, analysts expect that Visa Inc. will post 11.23 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.75%. The ex-dividend date was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is 24.25%.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on V shares. Deutsche Bank Aktiengesellschaft increased their price objective on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley raised their target price on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Mizuho boosted their target price on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods lifted their price objective on Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Robert W. Baird increased their target price on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $329.70.

Visa 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.