Crestwood Advisors Group LLC Lowers Holdings in Visa Inc. (NYSE:V)


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Crestwood Advisors Group LLC reduced its position in shares of Visa Inc. (NYSE:V) by 1.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 377,146 shares of the credit-card processor’s stock after selling 3,654 shares during the period. Visa comprises about 2.7% of Crestwood Advisors Group LLC’s investment portfolio, making the stock its 4th biggest position. Crestwood Advisors Group LLC’s holdings in Visa were worth $82,493,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of V. BlackRock Inc. raised its holdings in shares of Visa by 0.9% in the third quarter. BlackRock Inc. now owns 127,409,317 shares of the credit-card processor’s stock valued at $25,478,039,000 after buying an additional 1,130,933 shares during the last quarter. Morgan Stanley increased its position in Visa by 6.2% in the 3rd quarter. Morgan Stanley now owns 33,936,061 shares of the credit-card processor’s stock valued at $6,786,197,000 after acquiring an additional 1,975,972 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Visa by 3.2% in the fourth quarter. Fisher Asset Management LLC now owns 22,220,489 shares of the credit-card processor’s stock worth $4,860,288,000 after acquiring an additional 682,741 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Visa by 1.1% in the fourth quarter. Alliancebernstein L.P. now owns 18,669,445 shares of the credit-card processor’s stock worth $4,083,568,000 after acquiring an additional 206,395 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Visa by 14.4% during the third quarter. Jennison Associates LLC now owns 14,568,221 shares of the credit-card processor’s stock worth $2,913,207,000 after purchasing an additional 1,828,404 shares in the last quarter. 80.50% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:V traded up $1.81 on Tuesday, reaching $210.13. 269,094 shares of the company’s stock were exchanged, compared to its average volume of 10,284,387. Visa Inc. has a twelve month low of $133.93 and a twelve month high of $220.39. The company has a fifty day moving average of $205.99 and a 200-day moving average of $204.63. The company has a market capitalization of $410.24 billion, a price-to-earnings ratio of 42.58, a PEG ratio of 3.80 and a beta of 0.96. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.68.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 28th. The credit-card processor reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.14. The business had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.52 billion. Visa had a return on equity of 37.22% and a net margin of 49.74%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.46 earnings per share. As a group, equities research analysts forecast that Visa Inc. will post 5.45 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 1st. Shareholders of record on Friday, February 12th will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, February 11th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.61%. Visa’s payout ratio is presently 25.40%.

In other news, CAO James H. Hoffmeister sold 2,157 shares of Visa stock in a transaction dated Wednesday, December 2nd. The stock was sold at an average price of $208.87, for a total transaction of $450,532.59. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction dated Monday, November 30th. The stock was sold at an average price of $209.40, for a total value of $1,884,600.00. Following the sale, the chief executive officer now owns 132,660 shares in the company, valued at $27,779,004. The disclosure for this sale can be found here. Insiders have sold 82,398 shares of company stock valued at $17,896,223 over the last quarter. Company insiders own 0.19% of the company’s stock.

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Visa from $220.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 14th. Piper Sandler upped their price target on Visa from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Wednesday, December 2nd. BMO Capital Markets lowered their price objective on Visa from $210.00 to $204.00 and set an “outperform” rating for the company in a research report on Thursday, October 29th. Wells Fargo & Company boosted their price objective on Visa from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, November 19th. Finally, KeyCorp raised their target price on shares of Visa from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, January 13th. Five analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $222.64.

Visa Company Profile

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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