Visa Inc. (NYSE:V) Shares Sold by Sheets Smith Wealth Management


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Sheets Smith Wealth Management reduced its position in Visa Inc. (NYSE:V) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,244 shares of the credit-card processor’s stock after selling 3,982 shares during the period. Visa comprises about 2.2% of Sheets Smith Wealth Management’s portfolio, making the stock its 6th biggest holding. Sheets Smith Wealth Management’s holdings in Visa were worth $14,708,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Newfound Research LLC purchased a new stake in Visa in the 3rd quarter worth $31,000. Brand Asset Management Group Inc. grew its holdings in shares of Visa by 52.7% during the third quarter. Brand Asset Management Group Inc. now owns 258 shares of the credit-card processor’s stock worth $52,000 after buying an additional 89 shares in the last quarter. Catalyst Private Wealth LLC purchased a new stake in shares of Visa during the third quarter worth $59,000. TFC Financial Management purchased a new stake in shares of Visa during the third quarter worth $65,000. Finally, Provident Wealth Management LLC purchased a new stake in shares of Visa during the third quarter worth $68,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

V stock opened at $209.35 on Thursday. The company’s 50 day moving average price is $211.56 and its 200 day moving average price is $202.74. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.55 and a current ratio of 1.55. Visa Inc. has a fifty-two week low of $133.93 and a fifty-two week high of $220.39. The firm has a market capitalization of $407.94 billion, a price-to-earnings ratio of 39.88, a PEG ratio of 2.59 and a beta of 0.91.

Visa (NYSE:V) last released its earnings results on Wednesday, October 28th. The credit-card processor reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.03. Visa had a net margin of 51.37% and a return on equity of 40.65%. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.03 billion. Equities analysts forecast that Visa Inc. will post 5.01 EPS for the current fiscal year.

A number of equities research analysts have recently issued reports on V shares. KeyCorp upped their target price on shares of Visa from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday. Royal Bank of Canada reissued a “buy” rating and set a $243.00 price target on shares of Visa in a research report on Sunday, October 11th. Raymond James lowered their price target on shares of Visa from $217.00 to $211.00 and set an “outperform” rating on the stock in a research report on Thursday, October 29th. Barclays reissued a “buy” rating and set a $230.00 price target on shares of Visa in a research report on Tuesday, December 22nd. Finally, Credit Suisse Group lowered their price target on shares of Visa from $235.00 to $230.00 and set an “outperform” rating on the stock in a research report on Thursday, October 29th. Six analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Visa currently has an average rating of “Buy” and an average price target of $220.41.

In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction that occurred on Monday, November 30th. The shares were sold at an average price of $209.40, for a total value of $1,884,600.00. Following the transaction, the chief executive officer now directly owns 132,660 shares in the company, valued at $27,779,004. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rajat Taneja sold 60,048 shares of the stock in a transaction that occurred on Wednesday, December 30th. The shares were sold at an average price of $220.00, for a total transaction of $13,210,560.00. Following the completion of the transaction, the insider now owns 310,904 shares in the company, valued at $68,398,880. The disclosure for this sale can be found here. Insiders have sold 80,205 shares of company stock worth $17,188,463 over the last 90 days. Insiders own 0.19% of the company’s stock.

About Visa

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

Further Reading: Buy Rating

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Institutional Ownership by Quarter for Visa (NYSE:V)

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