Convergence Investment Partners LLC Sells 958 Shares of Visa Inc. (NYSE:V)

Convergence Investment Partners LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 26.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,725 shares of the credit-card processor’s stock after selling 958 shares during the period. Convergence Investment Partners LLC’s holdings in Visa were worth $709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GoalVest Advisory LLC raised its stake in shares of Visa by 3.4% during the fourth quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock worth $317,000 after purchasing an additional 40 shares during the last quarter. Destiny Wealth Partners LLC raised its position in Visa by 2.5% in the fourth quarter. Destiny Wealth Partners LLC now owns 1,668 shares of the credit-card processor’s stock worth $433,000 after acquiring an additional 40 shares in the last quarter. Sunflower Bank N.A. raised its position in Visa by 1.3% in the fourth quarter. Sunflower Bank N.A. now owns 3,143 shares of the credit-card processor’s stock worth $818,000 after acquiring an additional 41 shares in the last quarter. Parker Financial LLC raised its position in Visa by 4.8% in the fourth quarter. Parker Financial LLC now owns 925 shares of the credit-card processor’s stock worth $241,000 after acquiring an additional 42 shares in the last quarter. Finally, Patron Partners LLC raised its position in Visa by 1.0% in the fourth quarter. Patron Partners LLC now owns 4,295 shares of the credit-card processor’s stock worth $1,118,000 after acquiring an additional 42 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Visa news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,874 shares of company stock worth $5,506,827. 0.19% of the stock is currently owned by company insiders.

Visa Stock Down 0.2 %

Shares of V traded down $0.64 during trading hours on Friday, hitting $274.52. 6,840,615 shares of the company were exchanged, compared to its average volume of 6,528,673. The company has a market cap of $504.16 billion, a PE ratio of 30.67, a PEG ratio of 1.89 and a beta of 0.96. The firm’s 50 day moving average is $279.24 and its 200-day moving average is $264.52. Visa Inc. has a 52 week low of $216.14 and a 52 week high of $290.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.45 and a current ratio of 1.40.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the prior year, the company earned $2.09 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities research analysts forecast that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be given a $0.52 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio is currently 23.24%.

Analyst Ratings Changes

Several research analysts have issued reports on V shares. Wedbush increased their price objective on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays upped their target price on Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a report on Monday, January 29th. TD Cowen began coverage on Visa in a report on Thursday, April 11th. They issued a “buy” rating and a $320.00 target price on the stock. Citigroup increased their price objective on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Susquehanna increased their price objective on Visa from $300.00 to $326.00 and gave the company a “positive” rating in a research note on Friday, January 26th. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $302.58.

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.