Shorepath Capital Management LLC Sells 647 Shares of Visa Inc. (NYSE:V)

Shorepath Capital Management LLC decreased its stake in Visa Inc. (NYSE:V) by 2.4% during the 4th quarter, HoldingsChannel reports. The fund owned 26,262 shares of the credit-card processor’s stock after selling 647 shares during the period. Visa comprises approximately 5.9% of Shorepath Capital Management LLC’s portfolio, making the stock its 5th biggest holding. Shorepath Capital Management LLC’s holdings in Visa were worth $8,300,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Peterson Financial Group Inc. bought a new position in Visa in the third quarter worth $26,000. Reston Wealth Management LLC bought a new position in Visa in the third quarter worth $31,000. Modus Advisors LLC bought a new position in Visa in the fourth quarter worth $32,000. Fairway Wealth LLC bought a new position in Visa in the second quarter worth $39,000. Finally, West Financial Advisors LLC lifted its position in Visa by 101.4% in the third 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 period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $309.24 on Wednesday. The stock has a 50-day moving average price of $312.76 and a 200 day moving average price of $287.65. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a market cap of $576.08 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 2.11 and a beta of 0.96. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $321.61.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the company earned $2.33 earnings per share. Research analysts expect that Visa Inc. will post 11.23 EPS for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

Analysts Set New Price Targets

A number of research analysts have issued reports on V shares. Citigroup lifted their price objective on Visa from $326.00 to $354.00 and gave the company a “buy” rating in a report on Tuesday. Bank of America lifted their price objective on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. TD Cowen lifted their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Piper Sandler lifted their price objective on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets lifted their price objective on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $331.92.

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.