Howe & Rusling Inc. Has $6.89 Million Stock Position in Visa Inc. (NYSE:V)

Howe & Rusling Inc. lowered its position in shares of Visa Inc. (NYSE:V) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,461 shares of the credit-card processor’s stock after selling 1,083 shares during the quarter. Howe & Rusling Inc.’s holdings in Visa were worth $6,889,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in V. International Assets Investment Management LLC boosted its holdings in shares of Visa by 17,418.7% in the 4th quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock valued at $1,233,338,000 after buying an additional 4,710,188 shares during the last quarter. FMR LLC lifted its holdings in Visa by 4.7% during the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after purchasing an additional 2,257,605 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Visa during the 3rd quarter valued at $358,349,000. The Manufacturers Life Insurance Company lifted its holdings in Visa by 34.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,929,979 shares of the credit-card processor’s stock valued at $903,955,000 after purchasing an additional 999,167 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Visa by 28.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 3,983,190 shares of the credit-card processor’s stock valued at $916,174,000 after purchasing an additional 871,439 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

NYSE:V traded down $0.75 during trading hours on Wednesday, hitting $267.86. The company’s stock had a trading volume of 3,394,725 shares, compared to its average volume of 5,902,735. The company has a market capitalization of $491.93 billion, a P/E ratio of 30.11, a PEG ratio of 1.87 and a beta of 0.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a fifty day simple moving average of $278.98 and a 200-day simple moving average of $265.19. Visa Inc. has a twelve month low of $216.14 and a twelve month high of $290.96.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.09 earnings per share. On average, analysts anticipate that Visa Inc. will post 9.9 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, May 16th. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Visa news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,874 shares of company stock worth $5,506,827. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on V shares. Citigroup raised their price target on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. William Blair reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Susquehanna raised their price target on Visa from $300.00 to $326.00 and gave the company a “positive” rating in a report on Friday, January 26th. KeyCorp increased their price objective on Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. Finally, TD Cowen began coverage on Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective on the stock. Five analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $302.58.

Visa Company 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.