Tennessee Valley Asset Management Partners Decreases Stake in Visa Inc. (NYSE:V)

Tennessee Valley Asset Management Partners cut its stake in shares of Visa Inc. (NYSE:V) by 8.3% during the fourth quarter, HoldingsChannel reports. The firm owned 1,381 shares of the credit-card processor’s stock after selling 125 shares during the quarter. Tennessee Valley Asset Management Partners’ holdings in Visa were worth $437,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in V. State Street Corp raised its holdings in shares of Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after buying an additional 3,327,977 shares during the period. FMR LLC raised its holdings in shares of Visa by 6.1% in 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 during the period. Geode Capital Management LLC raised its holdings in shares of Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after buying an additional 2,772,549 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Visa by 1.1% in the third 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 worth $3,188,862,000 after purchasing an additional 123,927 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Visa by 6.2% in the third 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 purchasing an additional 670,590 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on V. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods increased their target price on Visa from $335.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Susquehanna increased their target price on Visa from $339.00 to $375.00 and gave the company a “positive” rating in a research report on Wednesday, December 11th. Bank of America increased their target price on Visa from $314.00 to $331.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Citigroup increased their price objective on Visa from $326.00 to $354.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $335.52.

Visa Stock Performance

NYSE V opened at $334.80 on Wednesday. The stock has a 50-day simple moving average of $315.39 and a two-hundred day simple moving average of $291.29. The firm has a market capitalization of $623.69 billion, a P/E ratio of 34.41, a PEG ratio of 2.17 and a beta of 0.96. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $337.83. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period last year, the firm earned $2.33 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities analysts forecast that Visa Inc. will post 11.19 earnings per share for the current year.

Insider Buying and Selling

In other 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 transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred 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. 0.13% of the stock is currently owned by insiders.

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.