Dakota Wealth Management Sells 8,871 Shares of Visa Inc. $V

Dakota Wealth Management trimmed its holdings in shares of Visa Inc. (NYSE:V) by 6.1% in the 3rd quarter, Holdings Channel reports. The firm owned 137,545 shares of the credit-card processor’s stock after selling 8,871 shares during the quarter. Visa accounts for 0.9% of Dakota Wealth Management’s holdings, making the stock its 17th biggest holding. Dakota Wealth Management’s holdings in Visa were worth $46,955,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Visa in the second quarter valued at about $7,034,939,000. TCI Fund Management Ltd. raised its stake in Visa by 14.6% in the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after buying an additional 2,429,996 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Visa by 110.4% during the second quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock worth $1,396,930,000 after buying an additional 2,075,289 shares during the period. Vanguard Group Inc. lifted its holdings in Visa by 0.9% during the second quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after buying an additional 1,461,575 shares during the period. Finally, Geode Capital Management LLC boosted its position in Visa by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after acquiring an additional 1,067,631 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the sale, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.12% of the company’s stock.

Visa Trading Down 4.6%

Shares of NYSE:V opened at $306.22 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The stock has a market cap of $555.84 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 1.84 and a beta of 0.79. The business has a 50-day moving average price of $335.58 and a 200-day moving average price of $338.77.

Visa (NYSE:V) last issued its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The firm had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the prior year, the firm earned $2.75 earnings per share. Visa’s revenue for the quarter was up 14.6% on a year-over-year basis. Equities analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be given a dividend of $0.67 per share. The ex-dividend date is Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a yield of 0.9%. Visa’s payout ratio is currently 25.14%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. UBS Group restated a “buy” rating on shares of Visa in a research note on Tuesday, January 13th. Morgan Stanley restated an “overweight” rating and set a $411.00 target price (up from $398.00) on shares of Visa in a research note on Friday, January 30th. TD Cowen reaffirmed a “buy” rating on shares of Visa in a research report on Friday, January 30th. Freedom Capital upgraded Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. Finally, Rothschild & Co Redburn set a $385.00 price objective on shares of Visa in a research report on Wednesday, January 28th. Seven research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $391.43.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.