Shell Asset Management Co. Reduces Position in Visa Inc. $V

Shell Asset Management Co. lowered its stake in Visa Inc. (NYSE:V) by 76.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,381 shares of the credit-card processor’s stock after selling 86,089 shares during the period. Visa accounts for 0.9% of Shell Asset Management Co.’s holdings, making the stock its 13th biggest position. Shell Asset Management Co.’s holdings in Visa were worth $9,006,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Uniting Wealth Partners LLC increased its position in shares of Visa by 234.4% in the 3rd quarter. Uniting Wealth Partners LLC now owns 2,575 shares of the credit-card processor’s stock valued at $879,000 after acquiring an additional 1,805 shares during the period. Snider Financial Group grew its stake in Visa by 3.2% during the 3rd quarter. Snider Financial Group now owns 10,100 shares of the credit-card processor’s stock valued at $3,448,000 after purchasing an additional 310 shares during the last quarter. Warner Group LLC purchased a new stake in Visa during the 3rd quarter valued at about $359,000. Aberdeen Group plc grew its stake in Visa by 6.6% during the 3rd quarter. Aberdeen Group plc now owns 1,613,891 shares of the credit-card processor’s stock valued at $550,482,000 after purchasing an additional 99,543 shares during the last quarter. Finally, Berkshire Asset Management LLC PA increased its holdings in shares of Visa by 11.0% in the third quarter. Berkshire Asset Management LLC PA now owns 5,596 shares of the credit-card processor’s stock valued at $1,910,000 after purchasing an additional 553 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the transaction, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at $3,282,641.18. This represents a 52.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at $8,608,789.09. This represents a 7.60% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on V shares. Robert W. Baird set a $425.00 target price on Visa in a report on Wednesday, October 29th. Rothschild & Co Redburn set a $385.00 price objective on shares of Visa in a research note on Wednesday, January 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $395.00 price objective on shares of Visa in a report on Friday, January 30th. Cantor Fitzgerald upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, January 27th. Finally, Piper Sandler set a $160.00 target price on shares of Visa in a research report on Wednesday, January 28th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $392.21.

Visa Price Performance

NYSE:V opened at $314.13 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11. The company has a 50 day moving average price of $337.98 and a 200-day moving average price of $339.81. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The firm has a market cap of $570.19 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 1.80 and a beta of 0.79.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating the consensus estimate of $3.14 by $0.03. The company had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.69 billion. Visa had a net margin of 50.23% and a return on equity of 61.74%. The firm’s revenue was up 14.6% on a year-over-year basis. During the same quarter last year, the business earned $2.75 earnings per share. Equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a yield of 0.9%. Visa’s dividend payout ratio is presently 25.14%.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.