Malaga Cove Capital LLC Sells 699 Shares of Visa Inc. (NYSE:V)

Malaga Cove Capital LLC lessened its stake in Visa Inc. (NYSE:V) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,997 shares of the credit-card processor’s stock after selling 699 shares during the period. Visa comprises about 1.1% of Malaga Cove Capital LLC’s portfolio, making the stock its 22nd biggest position. Malaga Cove Capital LLC’s holdings in Visa were worth $2,603,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in V. GoalVest Advisory LLC boosted its position in shares of Visa by 3.4% during the 4th quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock valued at $317,000 after purchasing an additional 40 shares in the last quarter. Destiny Wealth Partners LLC grew its position in shares of Visa by 2.5% during the 4th quarter. Destiny Wealth Partners LLC now owns 1,668 shares of the credit-card processor’s stock worth $433,000 after buying an additional 40 shares during the period. Sunflower Bank N.A. lifted its position in shares of Visa by 1.3% during the 4th quarter. Sunflower Bank N.A. now owns 3,143 shares of the credit-card processor’s stock valued at $818,000 after acquiring an additional 41 shares during the period. Parker Financial LLC grew its holdings 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 purchasing an additional 42 shares during the period. Finally, Patron Partners LLC raised its holdings in shares of Visa by 1.0% during the fourth quarter. Patron Partners LLC now owns 4,295 shares of the credit-card processor’s stock valued at $1,118,000 after purchasing an additional 42 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on V shares. Mizuho boosted their target price on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday. TD Cowen began coverage on shares of Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price for the company. Wedbush raised their price target on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. William Blair reissued an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Finally, Oppenheimer increased their price objective on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $303.00.

Insider Activity

In related news, Director Lloyd Carney sold 909 shares of the stock in a transaction 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 sale, the director now owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Visa news, 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 completion of the sale, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,724 shares of company stock worth $3,278,698. 0.19% of the stock is owned by company insiders.

Visa Stock Performance

NYSE V traded up $0.88 during trading on Friday, hitting $268.49. 3,862,018 shares of the company’s stock traded hands, compared to its average volume of 6,930,902. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market capitalization of $493.08 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 1.84 and a beta of 0.95. Visa Inc. has a 12-month low of $216.14 and a 12-month high of $290.96. The business has a 50 day moving average of $278.17 and a 200-day moving average of $265.42.

Visa (NYSE:V) last released 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 company had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same period last year, the firm earned $2.09 EPS. Visa’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, equities research analysts anticipate that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, May 16th. Visa’s dividend payout ratio is presently 23.24%.

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.