Dock Street Asset Management Inc. Cuts Stock Holdings in Visa Inc. $V

Dock Street Asset Management Inc. lessened its position in shares of Visa Inc. (NYSE:VFree Report) by 4.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 156,196 shares of the credit-card processor’s stock after selling 7,585 shares during the period. Visa makes up about 5.0% of Dock Street Asset Management Inc.’s investment portfolio, making the stock its 5th largest position. Dock Street Asset Management Inc.’s holdings in Visa were worth $54,779,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of V. Parvin Asset Management LLC grew its holdings in shares of Visa by 200.0% during the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after buying an additional 50 shares in the last quarter. Sagard Holdings Management Inc. bought a new stake in Visa in the 2nd quarter valued at approximately $31,000. Imprint Wealth LLC acquired a new position in Visa during the 3rd quarter worth approximately $39,000. Strategic Advocates LLC bought a new position in shares of Visa during the 3rd quarter worth approximately $43,000. Finally, Moisand Fitzgerald Tamayo LLC raised its holdings in shares of Visa by 344.8% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 129 shares of the credit-card processor’s stock valued at $44,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In other news, Director Lloyd Carney sold 650 shares of Visa stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total transaction of $201,253.00. Following the completion of the transaction, the director directly owned 2,679 shares in the company, valued at approximately $829,471.98. The trade was a 19.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on V shares. Truist Financial set a $372.00 target price on shares of Visa in a report on Tuesday, February 10th. Piper Sandler set a $160.00 price target on shares of Visa in a research report on Wednesday, January 28th. Morgan Stanley restated an “overweight” rating and set a $411.00 price objective (up from $398.00) on shares of Visa in a research note on Friday, January 30th. Rothschild & Co Redburn set a $385.00 price objective on Visa in a report on Wednesday, January 28th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $395.00 target price on shares of Visa in a report on Friday, January 30th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $390.96.

Get Our Latest Research Report on V

More Visa News

Here are the key news stories impacting Visa this week:

Visa Stock Performance

Shares of V opened at $300.88 on Friday. The company has a market cap of $546.14 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 1.71 and a beta of 0.80. The firm has a 50-day moving average of $315.58 and a 200-day moving average of $331.79. Visa Inc. has a one year low of $293.89 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11.

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

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, February 10th. Visa’s dividend payout ratio (DPR) is presently 25.14%.

About Visa

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Visa (NYSE:V)

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