Redwood Financial Network Corp Cuts Stock Position in Visa Inc. (NYSE:V)

Redwood Financial Network Corp cut its holdings in Visa Inc. (NYSE:VFree Report) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,770 shares of the credit-card processor’s stock after selling 66 shares during the period. Redwood Financial Network Corp’s holdings in Visa were worth $407,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. lifted its position in Visa by 2.5% in the 2nd quarter. BlackRock Inc. now owns 126,912,205 shares of the credit-card processor’s stock valued at $30,139,110,000 after purchasing an additional 3,070,682 shares during the last quarter. State Street Corp raised its position in shares of Visa by 1.7% during the 2nd quarter. State Street Corp now owns 74,133,003 shares of the credit-card processor’s stock worth $17,605,106,000 after buying an additional 1,235,891 shares in the last quarter. Morgan Stanley raised its position in shares of Visa by 13.0% during the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock worth $10,621,287,000 after buying an additional 5,864,340 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Visa by 3.2% during the 2nd quarter. Geode Capital Management LLC now owns 33,239,315 shares of the credit-card processor’s stock worth $7,874,345,000 after buying an additional 1,016,960 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC raised its position in shares of Visa by 116,608.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock worth $5,090,978,000 after buying an additional 24,483,134 shares in the last quarter. 81.35% of the stock is currently owned by institutional investors.

Visa Stock Performance

Shares of NYSE V traded down $1.30 during trading hours on Monday, hitting $275.88. 1,252,694 shares of the stock were exchanged, compared to its average volume of 5,557,013. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45. The company’s 50 day moving average is $262.39 and its 200 day moving average is $248.10. The firm has a market capitalization of $506.66 billion, a P/E ratio of 31.80, a P/E/G ratio of 1.91 and a beta of 0.97. Visa Inc. has a one year low of $208.76 and a one year high of $279.99.

Visa (NYSE:VGet Free Report) last issued its quarterly earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.07. Visa had a net margin of 53.92% and a return on equity of 50.02%. The firm had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.55 billion. During the same period in the prior year, the firm earned $2.18 EPS. The business’s revenue was up 9.3% on a year-over-year basis. On average, research analysts expect that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Thursday, February 8th. Visa’s dividend payout ratio is 23.94%.

Wall Street Analyst Weigh In

V has been the topic of several recent research reports. Raymond James lifted their price objective on shares of Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Barclays lifted their price objective on shares of Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Jefferies Financial Group lifted their target price on shares of Visa from $280.00 to $295.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. JPMorgan Chase & Co. dropped their target price on shares of Visa from $296.00 to $293.00 and set an “overweight” rating on the stock in a research report on Monday, October 9th. Finally, KeyCorp lifted their target price on shares of Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $290.55.

Read Our Latest Analysis on V

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $255.79, for a total transaction of $2,084,688.50. Following the completion of the sale, the chief executive officer now owns 29,152 shares in the company, valued at approximately $7,456,790.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Visa news, insider Rajat Taneja sold 7,811 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $253.17, for a total value of $1,977,510.87. Following the completion of the sale, the insider now owns 232,112 shares in the company, valued at approximately $58,763,795.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $255.79, for a total transaction of $2,084,688.50. Following the sale, the chief executive officer now owns 29,152 shares of the company’s stock, valued at approximately $7,456,790.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,707 shares of company stock worth $22,738,021. 0.19% of the stock is currently owned by corporate insiders.

About Visa

(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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Institutional Ownership by Quarter for Visa (NYSE:V)

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