Cidel Asset Management Inc. Reduces Stock Position in Visa Inc (NYSE:V)

Cidel Asset Management Inc. lessened its stake in shares of Visa Inc (NYSE:V) by 90.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,301 shares of the credit-card processor’s stock after selling 11,873 shares during the quarter. Cidel Asset Management Inc.’s holdings in Visa were worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Ilmarinen Mutual Pension Insurance Co acquired a new position in shares of Visa during the third quarter worth $26,576,000. Colony Group LLC grew its position in Visa by 11.4% in the third quarter. Colony Group LLC now owns 57,938 shares of the credit-card processor’s stock worth $9,966,000 after acquiring an additional 5,913 shares in the last quarter. UMA Financial Services Inc. bought a new stake in Visa in the third quarter worth approximately $444,000. Voya Investment Management LLC boosted its holdings in shares of Visa by 1.9% during the 3rd quarter. Voya Investment Management LLC now owns 3,388,031 shares of the credit-card processor’s stock worth $582,775,000 after buying an additional 64,704 shares during the period. Finally, Voya Financial Advisors Inc. boosted its holdings in shares of Visa by 4.0% during the 3rd quarter. Voya Financial Advisors Inc. now owns 148,592 shares of the credit-card processor’s stock worth $25,856,000 after buying an additional 5,675 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Shares of NYSE V traded up $6.16 during midday trading on Thursday, reaching $167.94. The company’s stock had a trading volume of 411,146 shares, compared to its average volume of 19,172,908. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.46. Visa Inc has a fifty-two week low of $133.93 and a fifty-two week high of $214.17. The stock has a market capitalization of $303.27 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 1.66 and a beta of 0.94. The stock has a 50 day simple moving average of $186.24 and a 200-day simple moving average of $184.64.

Visa (NYSE:V) last released its earnings results on Thursday, January 30th. The credit-card processor reported $1.46 earnings per share for the quarter, meeting the consensus estimate of $1.46. The business had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $6.08 billion. Visa had a net margin of 52.60% and a return on equity of 43.15%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the business earned $1.30 earnings per share. As a group, equities analysts anticipate that Visa Inc will post 6.02 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.30 per share. This is a boost from Visa’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Thursday, February 13th. Visa’s payout ratio is 22.06%.

In other news, insider Rajat Taneja sold 10,685 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $208.29, for a total transaction of $2,225,578.65. Following the completion of the transaction, the insider now owns 282,318 shares in the company, valued at approximately $58,804,016.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO James H. Hoffmeister sold 2,186 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $208.71, for a total value of $456,240.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,371 shares of company stock worth $7,814,759. Company insiders own 0.19% of the company’s stock.

Several equities analysts recently commented on V shares. Macquarie started coverage on shares of Visa in a research note on Tuesday, January 21st. They set an “outperform” rating and a $250.00 target price for the company. Citigroup lowered their target price on shares of Visa from $236.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Guggenheim reaffirmed a “buy” rating and issued a $222.00 target price on shares of Visa in a report on Monday, February 3rd. Cantor Fitzgerald upped their target price on shares of Visa from $200.00 to $228.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Wells Fargo & Co upped their target price on shares of Visa from $213.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Four analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $214.15.

Visa Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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