Fagan Associates Inc. Sells 313 Shares of Visa Inc. (NYSE:V)

Fagan Associates Inc. decreased its stake in shares of Visa Inc. (NYSE:V) by 0.8% during the fourth quarter, HoldingsChannel reports. The firm owned 37,183 shares of the credit-card processor’s stock after selling 313 shares during the quarter. Visa accounts for approximately 1.9% of Fagan Associates Inc.’s holdings, making the stock its 13th biggest position. Fagan Associates Inc.’s holdings in Visa were worth $11,751,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. State Street Corp boosted its stake in shares of Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after purchasing an additional 3,327,977 shares in the last quarter. FMR LLC lifted its position in Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after acquiring an additional 3,265,518 shares during the period. Geode Capital Management LLC lifted its position in Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after acquiring an additional 2,772,549 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Visa by 1.1% during the 3rd 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 valued at $3,188,862,000 after acquiring an additional 123,927 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Visa by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock valued at $3,168,096,000 after acquiring an additional 670,590 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent research reports. Bank of America lifted their price target on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Citigroup lifted their price target on shares of Visa from $354.00 to $393.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Royal Bank of Canada lifted their price target on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays lifted their price target on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group lifted their price target on shares of Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $355.31.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the sale, the general counsel now owns 11,925 shares of the company’s stock, valued at $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,885 shares of company stock worth $19,161,447. 0.13% of the stock is owned by company insiders.

Visa Stock Performance

Shares of NYSE V opened at $348.27 on Friday. The firm has a 50 day moving average of $329.14 and a 200 day moving average of $302.03. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $647.01 billion, a price-to-earnings ratio of 35.11, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $357.15.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.68%. Visa’s dividend payout ratio (DPR) is 23.79%.

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.