Pallas Capital Advisors LLC Cuts Stock Holdings in Visa Inc. (NYSE:V)

Pallas Capital Advisors LLC reduced its stake in Visa Inc. (NYSE:V) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,279 shares of the credit-card processor’s stock after selling 746 shares during the quarter. Visa makes up 0.6% of Pallas Capital Advisors LLC’s investment portfolio, making the stock its 27th largest holding. Pallas Capital Advisors LLC’s holdings in Visa were worth $14,942,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Peterson Financial Group Inc. purchased a new stake in shares of Visa during the third quarter valued at approximately $26,000. Modus Advisors LLC purchased a new stake in shares of Visa during the 4th quarter valued at $32,000. Reston Wealth Management LLC bought a new stake in shares of Visa during the 3rd quarter worth $31,000. West Financial Advisors LLC boosted its holdings 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 buying an additional 73 shares during the last quarter. Finally, Fairway Wealth LLC bought a new position in Visa during the second quarter valued at about $39,000. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup increased their price objective on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Macquarie boosted their target price on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada increased their price target on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets boosted their price objective on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $330.85.

Visa Stock Down 0.4 %

V opened at $306.59 on Tuesday. The business’s fifty day simple moving average is $312.44 and its 200 day simple moving average is $287.32. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $321.61. 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 stock has a market cap of $571.14 billion, a PE ratio of 31.51, a P/E/G ratio of 2.11 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion for 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 in the prior year, the company earned $2.33 EPS. As a group, research analysts expect that Visa Inc. will post 11.23 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a $0.59 dividend. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s dividend payout ratio is 24.25%.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction 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 completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated 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 owned by insiders.

About Visa

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.