Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 8,380 Shares of Visa Inc. (NYSE:V)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its holdings in shares of Visa Inc. (NYSE:V) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 614,881 shares of the credit-card processor’s stock after selling 8,380 shares during the period. Visa accounts for approximately 1.7% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 22nd biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Visa were worth $168,023,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of V. Altshuler Shaham Ltd bought a new position in Visa during the third quarter worth $25,000. O Brien Wealth Partners LLC acquired a new position in shares of Visa during the fourth quarter valued at about $32,000. Nalls Sherbakoff Group LLC boosted its position in shares of Visa by 545.5% during the 3rd quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock worth $33,000 after purchasing an additional 120 shares in the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Visa in the 4th quarter valued at about $37,000. Finally, Life Planning Partners Inc bought a new stake in Visa in the 4th quarter valued at about $71,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wedbush boosted their price target on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday. Wells Fargo & Company upped their target price on shares of Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. William Blair reiterated an “outperform” rating on shares of Visa in a research note on Friday, January 26th. Royal Bank of Canada increased their price objective on Visa from $290.00 to $309.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Finally, Redburn Atlantic reaffirmed a “neutral” rating and set a $307.00 target price on shares of Visa in a research report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $301.35.

Visa Stock Up 0.7 %

Shares of NYSE:V opened at $274.23 on Wednesday. The firm has a fifty day moving average price of $279.49 and a two-hundred day moving average price of $263.90. The company has a market cap of $503.63 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 1.88 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45. Visa Inc. has a one year low of $216.14 and a one year high of $290.96.

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, topping analysts’ consensus estimates of $2.43 by $0.08. The business had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.09 EPS. Analysts anticipate that Visa Inc. will post 9.88 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. Visa’s payout ratio is 23.94%.

Insiders Place Their Bets

In other news, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the sale, the chief accounting officer now directly owns 4,898 shares in the company, valued at approximately $1,365,954.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The disclosure for this sale can be found here. Insiders sold a total of 18,965 shares of company stock valued at $5,256,352 over the last 90 days. Insiders own 0.19% of the company’s stock.

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.