IMA Wealth Inc. Sells 864 Shares of Visa Inc. (NYSE:V)

IMA Wealth Inc. lessened its stake in shares of Visa Inc. (NYSE:V) by 6.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,183 shares of the credit-card processor’s stock after selling 864 shares during the period. Visa accounts for approximately 1.6% of IMA Wealth Inc.’s holdings, making the stock its 21st biggest position. IMA Wealth Inc.’s holdings in Visa were worth $3,172,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new stake in Visa during the third quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new position in Visa in the fourth quarter worth about $32,000. Valued Wealth Advisors LLC purchased a new stake in Visa during the 4th quarter valued at $37,000. Stuart Chaussee & Associates Inc. lifted its holdings in shares of Visa by 66.2% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 236 shares of the credit-card processor’s stock worth $61,000 after acquiring an additional 94 shares during the last quarter. Finally, Macroview Investment Management LLC boosted its stake in shares of Visa by 1,019.2% during the 3rd quarter. Macroview Investment Management LLC now owns 291 shares of the credit-card processor’s stock worth $67,000 after purchasing an additional 265 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 0.2 %

V traded down $0.64 on Friday, hitting $274.52. The company had a trading volume of 6,840,615 shares, compared to its average volume of 6,528,673. The stock has a market capitalization of $504.16 billion, a price-to-earnings ratio of 30.67, a P/E/G ratio of 1.89 and a beta of 0.96. The stock has a fifty day moving average price of $279.24 and a 200-day moving average price of $264.52. Visa Inc. has a 12-month low of $216.14 and a 12-month 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 posted its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. During the same quarter in the previous year, the business posted $2.09 EPS. Visa’s revenue was up 9.9% on a year-over-year basis. Analysts predict that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Dividend Announcement

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

Insider Transactions at Visa

In other Visa news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Ryan Mcinerney sold 8,200 shares of the company’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 sale, the chief executive officer now owns 538 shares in the company, valued at $150,833.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lloyd Carney sold 909 shares of Visa stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,874 shares of company stock worth $5,506,827. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of several analyst reports. Raymond James raised their price objective on shares of Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Mizuho reissued a “neutral” rating and set a $265.00 price target on shares of Visa in a research note on Wednesday, March 27th. Redburn Atlantic reaffirmed a “neutral” rating and issued a $307.00 price objective on shares of Visa in a research report on Wednesday, March 27th. KeyCorp lifted their target price on Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Visa from $305.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $302.58.

About Visa

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.