Hayek Kallen Investment Management Sells 448 Shares of Visa Inc. (NYSE:V)

by · The Cerbat Gem

Hayek Kallen Investment Management reduced its stake in shares of Visa Inc. (NYSE:V – Free Report) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,435 shares of the credit-card processor’s stock after selling 448 shares during the period. Visa accounts for approximately 2.5% of Hayek Kallen Investment Management’s portfolio, making the stock its 9th biggest holding. Hayek Kallen Investment Management’s holdings in Visa were worth $6,774,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Howard Capital Management Group LLC increased its stake in shares of Visa by 0.6% in the third quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock worth $29,242,000 after purchasing an additional 610 shares during the period. Principal Financial Group Inc. increased its position in Visa by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock worth $1,576,366,000 after buying an additional 411,210 shares during the period. Morse Asset Management Inc acquired a new position in shares of Visa during the third quarter worth approximately $69,000. Passumpsic Savings Bank boosted its position in shares of Visa by 2.0% in the third quarter. Passumpsic Savings Bank now owns 9,137 shares of the credit-card processor’s stock valued at $2,512,000 after acquiring an additional 179 shares during the period. Finally, Virtu Financial LLC grew its stake in shares of Visa by 101.5% in the third quarter. Virtu Financial LLC now owns 44,984 shares of the credit-card processor’s stock worth $12,368,000 after acquiring an additional 22,658 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V opened at $335.88 on Friday. The business has a fifty day moving average of $338.83 and a 200-day moving average of $321.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The firm has a market cap of $623.99 billion, a PE ratio of 33.86, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V – Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.70%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio is 23.79%.

Insider Buying and Selling at Visa

In other news, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the sale, the chief accounting officer now owns 4,488 shares in the company, valued at $1,569,094.56. The trade was a 34.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at $194,931. This represents a 94.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,205 shares of company stock worth $48,842,490. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on V. William Blair reissued an “outperform” rating on shares of Visa in a report on Friday, January 31st. Wells Fargo & Company increased their target price on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Barclays boosted their price target on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. StockNews.com downgraded Visa from a “buy” rating to a “hold” rating in a research report on Wednesday, April 16th. Finally, Evercore ISI initiated coverage on Visa in a research report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $358.17.

Read Our Latest Analysis on V

Visa Profile

(Free Report)

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.

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