Hendley & Co. Inc. Sells 415 Shares of Visa Inc. (NYSE:V)

Hendley & Co. Inc. lowered its position in Visa Inc. (NYSE:V) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,866 shares of the credit-card processor’s stock after selling 415 shares during the quarter. Visa accounts for 8.3% of Hendley & Co. Inc.’s investment portfolio, making the stock its 2nd biggest position. Hendley & Co. Inc.’s holdings in Visa were worth $23,661,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in V. Peterson Financial Group Inc. purchased a new position in Visa in the third quarter valued at about $26,000. Decker Retirement Planning Inc. purchased a new position in Visa in the fourth quarter valued at about $26,000. Reston Wealth Management LLC purchased a new position in Visa in the third quarter valued at about $31,000. POM Investment Strategies LLC increased its position in shares of Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after acquiring an additional 32 shares during the last quarter. Finally, Modus Advisors LLC purchased a new stake in shares of Visa during the fourth quarter worth about $32,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

V has been the topic of a number of analyst reports. Raymond James reaffirmed an “outperform” rating and set a $393.00 target price (up from $374.00) on shares of Visa in a research report on Friday, January 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Barclays lifted their target price on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. The Goldman Sachs Group lifted their target price on Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company lifted their target price on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $353.96.

Insider Buying and Selling

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 stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the sale, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,054,500. The trade was a 17.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,885 shares of company stock valued at $19,161,447 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $350.61 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average of $331.31 and a two-hundred day moving average of $304.27. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $357.15. The company has a market cap of $651.36 billion, a P/E ratio of 35.34, a PEG ratio of 2.33 and a beta of 0.97.

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

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.67%. Visa’s payout ratio is 23.79%.

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.