Northcape Wealth Management LLC Cuts Stock Position in Visa Inc. (NYSE:V)

Northcape Wealth Management LLC cut its holdings in shares of Visa Inc. (NYSE:V) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,618 shares of the credit-card processor’s stock after selling 72 shares during the quarter. Visa accounts for approximately 1.4% of Northcape Wealth Management LLC’s holdings, making the stock its 19th biggest holding. Northcape Wealth Management LLC’s holdings in Visa were worth $3,806,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Trifecta Capital Advisors LLC boosted its position in Visa by 2.7% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 20,176 shares of the credit-card processor’s stock valued at $4,641,000 after buying an additional 536 shares during the period. Jmac Enterprises LLC boosted its holdings in shares of Visa by 20.5% during the third quarter. Jmac Enterprises LLC now owns 2,188 shares of the credit-card processor’s stock worth $503,000 after purchasing an additional 372 shares during the period. Roof Eidam Maycock Peralta LLC increased its holdings in Visa by 0.7% during the 3rd quarter. Roof Eidam Maycock Peralta LLC now owns 9,533 shares of the credit-card processor’s stock valued at $2,193,000 after purchasing an additional 65 shares during the period. Riversedge Advisors LLC raised its position in Visa by 48.5% during the 3rd quarter. Riversedge Advisors LLC now owns 2,130 shares of the credit-card processor’s stock valued at $490,000 after purchasing an additional 696 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its holdings in Visa by 8.3% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 9,852 shares of the credit-card processor’s stock worth $2,266,000 after buying an additional 751 shares during the period. 82.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on V shares. Oppenheimer raised their target price on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Macquarie upped their target price on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Evercore ISI raised their target price on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Wells Fargo & Company upped their price target on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Finally, Robert W. Baird raised their price objective on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $302.58.

Insiders Place Their Bets

In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the sale, the chief accounting officer now directly owns 4,898 shares in the company, valued at $1,365,954.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,898 shares in the company, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. Insiders sold 19,874 shares of company stock valued at $5,506,827 in the last three months. Corporate insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of NYSE V traded down $3.20 during midday trading on Tuesday, reaching $268.64. The stock had a trading volume of 6,375,486 shares, compared to its average volume of 5,935,847. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. Visa Inc. has a 12-month low of $216.14 and a 12-month high of $290.96. The stock has a 50-day moving average of $279.11 and a 200-day moving average of $264.97. The company has a market capitalization of $493.36 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping 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 company had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. During the same period in the previous year, the firm earned $2.09 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. As a group, research analysts anticipate that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, May 16th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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.