GC Wealth Management RIA LLC Trims Stock Position in Visa Inc. (NYSE:V)

GC Wealth Management RIA LLC lowered its holdings in shares of Visa Inc. (NYSE:V) by 23.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,860 shares of the credit-card processor’s stock after selling 3,370 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Visa were worth $3,432,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Swedbank AB grew its stake in shares of Visa by 10.7% during the 3rd quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock valued at $566,153,000 after acquiring an additional 199,440 shares during the period. Howard Capital Management Group LLC increased its holdings in Visa by 0.6% in the 3rd quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock worth $29,242,000 after acquiring an additional 610 shares in the last quarter. Pettinga Financial Advisors LLC purchased a new stake in Visa in the 3rd quarter worth approximately $228,000. Principal Financial Group Inc. increased its holdings in Visa by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock worth $1,576,366,000 after acquiring an additional 411,210 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in Visa by 3.0% in the 3rd quarter. Assetmark Inc. now owns 59,816 shares of the credit-card processor’s stock worth $16,446,000 after acquiring an additional 1,739 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the sale, the chief executive officer now directly owns 537 shares in the company, valued at approximately $194,931. This trade represents a 94.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction 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 owns 11,925 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 64,505 shares of company stock worth $22,290,507 over the last three months. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

V has been the subject of several analyst reports. The Goldman Sachs Group increased their target price on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Morgan Stanley increased their target price on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Oppenheimer reissued an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Bank of America increased their target price on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Barclays increased their price objective on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $353.96.

Visa Trading Down 1.2 %

V stock opened at $341.07 on Tuesday. The firm has a fifty day moving average price of $336.69 and a 200 day moving average price of $309.43. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $366.54. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $633.63 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.69%. Visa’s dividend payout ratio is presently 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.