Schmidt P J Investment Management Inc. reduced its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,201 shares of the credit-card processor's stock after selling 1,107 shares during the quarter. Visa accounts for about 1.9% of Schmidt P J Investment Management Inc.'s investment portfolio, making the stock its 11th largest holding. Schmidt P J Investment Management Inc.'s holdings in Visa were worth $11,125,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Peterson Financial Group Inc. bought a new stake in Visa in the third quarter valued at $26,000. Decker Retirement Planning Inc. acquired a new position in shares of Visa during the fourth quarter valued at $26,000. Reston Wealth Management LLC acquired a new position in shares of Visa during the third quarter valued at $31,000. Modus Advisors LLC acquired a new position in shares of Visa during the fourth quarter valued at $32,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Visa during the fourth quarter valued at $44,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Visa stock opened at $348.26 on Friday. The stock has a 50-day simple moving average of $321.08 and a 200-day simple moving average of $295.68. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.28. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $351.25. The firm has a market cap of $647.00 billion, a price-to-earnings ratio of 35.11, a P/E/G ratio of 2.32 and a beta of 0.97.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share 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%. On average, equities research analysts expect that Visa Inc. will post 11.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date is Tuesday, February 11th. Visa's dividend payout ratio is currently 23.79%.
In other 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul D. Fabara sold 2,171 shares of the company's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,056 shares of company stock valued at $19,830,050 in the last three months. Company insiders own 0.13% of the company's stock.
A number of brokerages have recently commented on V. Macquarie raised their price target on Visa from $300.00 to $335.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their target price on Visa from $320.00 to $330.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. 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 report on Friday, January 31st. Susquehanna lifted their target price on Visa from $375.00 to $395.00 and gave the stock a "positive" rating in a 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 report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $354.73.
View Our Latest Stock Report on V
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.
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