Corbyn Investment Management Inc. MD Trims Position in Visa Inc. (NYSE:V)

Corbyn Investment Management Inc. MD lessened its stake in Visa Inc. (NYSE:V) by 9.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,600 shares of the credit-card processor’s stock after selling 1,683 shares during the period. Visa accounts for about 1.9% of Corbyn Investment Management Inc. MD’s portfolio, making the stock its 19th largest position. Corbyn Investment Management Inc. MD’s holdings in Visa were worth $4,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake in Visa by 4.7% in the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock worth $11,582,785,000 after purchasing an additional 2,257,605 shares in the last quarter. Northern Trust Corp boosted its stake in Visa by 4.7% in the 3rd quarter. Northern Trust Corp now owns 17,073,700 shares of the credit-card processor’s stock worth $3,927,122,000 after purchasing an additional 763,505 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Visa by 2.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock worth $3,272,846,000 after purchasing an additional 374,489 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Visa by 0.7% in the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after purchasing an additional 85,123 shares during the period. Finally, Brown Advisory Inc. lifted its stake in shares of Visa by 1.5% in the 3rd quarter. Brown Advisory Inc. now owns 7,542,434 shares of the credit-card processor’s stock valued at $1,734,835,000 after purchasing an additional 108,280 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on V shares. Wedbush upped their target price on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays upped their target price on shares of Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Mizuho reaffirmed a “neutral” rating and set a $265.00 target price on shares of Visa in a report on Wednesday, March 27th. Susquehanna upped their target price on shares of Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a report on Friday, January 26th. Finally, Wells Fargo & Company upped their target price on shares of Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $302.58.

Visa Stock Performance

Shares of V traded up $0.14 during mid-day trading on Thursday, reaching $275.16. 8,058,475 shares of the company’s stock were exchanged, compared to its average volume of 5,940,645. 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 stock has a market capitalization of $505.33 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The business’s fifty day simple moving average is $279.44 and its 200-day simple moving average is $263.97. Visa Inc. has a 52-week low of $216.14 and a 52-week high of $290.96.

Visa (NYSE:V) last issued 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. Visa had a return on equity of 51.72% and a net margin of 53.87%. The firm had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same period last year, the company earned $2.09 earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities research analysts expect that Visa Inc. will post 9.88 earnings per share for the current year.

Visa Dividend Announcement

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 given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Thursday, May 16th. Visa’s dividend payout ratio is currently 23.24%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Ryan Mcinerney sold 8,150 shares of the business’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 transaction of $2,228,128.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the transaction, the chief accounting officer now directly owns 4,898 shares in the company, valued at $1,365,954.24. The disclosure for this sale can be found here. Insiders sold a total of 18,965 shares of company stock worth $5,256,352 over the last 90 days. 0.19% of the stock is currently owned by corporate insiders.

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.