Bartlett & CO. Wealth Management LLC Trims Stock Holdings in Visa Inc. (NYSE:V)

Bartlett & CO. Wealth Management LLC trimmed its holdings in Visa Inc. (NYSE:V) by 1.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 25,324 shares of the credit-card processor’s stock after selling 425 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Visa were worth $8,003,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Evolution Wealth Advisors LLC boosted its holdings in Visa by 8.4% in the 4th quarter. Evolution Wealth Advisors LLC now owns 1,033 shares of the credit-card processor’s stock valued at $326,000 after purchasing an additional 80 shares during the period. Kelleher Financial Advisors boosted its holdings in Visa by 57.1% in the 4th quarter. Kelleher Financial Advisors now owns 2,057 shares of the credit-card processor’s stock valued at $650,000 after purchasing an additional 748 shares during the period. Marino Stram & Associates LLC lifted its holdings in shares of Visa by 1.7% during the 4th quarter. Marino Stram & Associates LLC now owns 3,609 shares of the credit-card processor’s stock worth $1,141,000 after acquiring an additional 62 shares during the last quarter. Park Place Capital Corp lifted its holdings in shares of Visa by 3.3% during the 4th quarter. Park Place Capital Corp now owns 9,976 shares of the credit-card processor’s stock worth $3,153,000 after acquiring an additional 321 shares during the last quarter. Finally, Magnus Financial Group LLC lifted its holdings in shares of Visa by 2.4% during the 4th quarter. Magnus Financial Group LLC now owns 15,740 shares of the credit-card processor’s stock worth $4,975,000 after acquiring an additional 363 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

V has been the subject of a number of research analyst reports. Piper Sandler lifted their price objective on shares of Visa from $322.00 to $368.00 and gave the stock an “overweight” rating in a report on Friday. Morgan Stanley lifted their target price on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Susquehanna lifted their target price on shares of Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a research report on Wednesday, December 11th. Barclays lifted their target price on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Bank of America lifted their target price on shares of Visa from $314.00 to $331.00 and gave the stock a “neutral” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $334.58.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the 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 transaction, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the 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. Insiders own 0.13% of the company’s stock.

Visa Trading Up 0.6 %

Shares of NYSE V opened at $330.20 on Friday. The firm’s 50 day moving average price is $314.54 and its 200-day moving average price is $289.98. The company has a market cap of $615.11 billion, a PE ratio of 33.94, a P/E/G ratio of 2.17 and a beta of 0.96. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $331.09. 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 issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.33 earnings per share. On average, equities research analysts expect that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.

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.