Nexus Investment Management ULC Sells 1,195 Shares of Visa Inc. (NYSE:V)

Nexus Investment Management ULC trimmed its position in Visa Inc. (NYSE:V) by 2.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 55,176 shares of the credit-card processor’s stock after selling 1,195 shares during the period. Visa comprises approximately 1.7% of Nexus Investment Management ULC’s holdings, making the stock its 29th largest holding. Nexus Investment Management ULC’s holdings in Visa were worth $17,438,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in V. Astoria Portfolio Advisors LLC. boosted its holdings in Visa by 16.8% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 5,970 shares of the credit-card processor’s stock valued at $1,845,000 after acquiring an additional 859 shares during the last quarter. Kera Capital Partners Inc. acquired a new position in Visa during the 4th quarter valued at about $295,000. Smith Salley Wealth Management boosted its stake in shares of Visa by 1.2% in the 4th quarter. Smith Salley Wealth Management now owns 110,556 shares of the credit-card processor’s stock valued at $34,940,000 after purchasing an additional 1,282 shares during the last quarter. Herbst Group LLC grew its position in shares of Visa by 14.3% during the 4th quarter. Herbst Group LLC now owns 10,404 shares of the credit-card processor’s stock worth $3,288,000 after buying an additional 1,299 shares during the period. Finally, Jackson Square Capital LLC raised its stake in shares of Visa by 7.6% during the fourth quarter. Jackson Square Capital LLC now owns 10,853 shares of the credit-card processor’s stock worth $3,430,000 after buying an additional 763 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Up 0.9 %

V stock opened at $319.97 on Monday. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $321.61. The company has a market cap of $596.06 billion, a price-to-earnings ratio of 32.88, a P/E/G ratio of 2.06 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average price of $313.41 and a two-hundred day moving average price of $288.59.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.33 earnings per share. Analysts anticipate that Visa Inc. will post 11.22 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.74%. The ex-dividend date was Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is 24.25%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on V shares. Wells Fargo & Company lifted their target price on shares of Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Mizuho lifted their price objective on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Piper Sandler increased their target price on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Barclays increased their price target on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $331.92.

Visa Profile

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.