Visa Inc. (NYSE:V) Shares Sold by Ocean Capital Management LLC

Ocean Capital Management LLC trimmed its holdings in Visa Inc. (NYSE:V) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,724 shares of the credit-card processor’s stock after selling 235 shares during the period. Visa accounts for approximately 2.0% of Ocean Capital Management LLC’s holdings, making the stock its 11th largest holding. Ocean Capital Management LLC’s holdings in Visa were worth $4,875,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in V. Hibernia Wealth Partners LLC acquired a new position in shares of Visa in the 3rd quarter valued at about $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Visa during the 3rd quarter valued at about $25,000. West Tower Group LLC purchased a new stake in shares of Visa during the 2nd quarter valued at about $30,000. Nalls Sherbakoff Group LLC raised its holdings in shares of Visa by 545.5% during the 3rd quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock valued at $33,000 after buying an additional 120 shares during the period. Finally, Valued Wealth Advisors LLC purchased a new stake in shares of Visa during the 4th quarter valued at about $37,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of NYSE:V traded down $0.24 on Thursday, hitting $278.78. The company’s stock had a trading volume of 5,844,191 shares, compared to its average volume of 5,650,746. Visa Inc. has a 12 month low of $216.14 and a 12 month high of $290.96. The company has a market capitalization of $511.98 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. The stock’s 50-day moving average is $279.11 and its two-hundred day moving average is $258.66. 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 quarterly earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.07. Visa had a return on equity of 50.02% and a net margin of 53.92%. The company had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.55 billion. During the same quarter in the prior year, the business posted $2.18 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities research analysts forecast that Visa Inc. will post 9.89 EPS for the current year.

Visa Dividend Announcement

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

Analyst Ratings Changes

V has been the topic of several analyst reports. KeyCorp raised their target price on Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, January 8th. BMO Capital Markets initiated coverage on Visa in a report on Tuesday, December 5th. They set an “outperform” rating and a $280.00 target price on the stock. Raymond James raised their target price on Visa from $287.00 to $311.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Wedbush lifted their price objective on Visa from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Finally, Evercore ISI lifted their price objective on Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $295.82.

Insider Activity

In related news, insider Rajat Taneja sold 36,546 shares of the stock in a transaction dated Friday, January 19th. The stock was 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 directly owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Rajat Taneja sold 36,546 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the completion of the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The disclosure for this sale can be found here. Insiders sold a total of 47,311 shares of company stock valued at $12,832,129 over the last three months. Insiders own 0.19% of the company’s stock.

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.