Jennison Associates LLC Sells 1,370,696 Shares of Visa Inc. (NYSE:V)

Jennison Associates LLC reduced its holdings in Visa Inc. (NYSE:V) by 15.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 7,723,251 shares of the credit-card processor’s stock after selling 1,370,696 shares during the quarter. Visa makes up about 1.5% of Jennison Associates LLC’s portfolio, making the stock its 15th largest holding. Jennison Associates LLC owned about 0.41% of Visa worth $2,440,856,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Peterson Financial Group Inc. acquired a new stake in Visa during the third quarter worth approximately $26,000. Decker Retirement Planning Inc. acquired a new stake in shares of Visa during the 4th quarter worth approximately $26,000. Reston Wealth Management LLC acquired a new position in shares of Visa during the 3rd quarter valued at $31,000. Modus Advisors LLC bought a new position in Visa during the fourth quarter worth $32,000. Finally, West Financial Advisors LLC boosted its stake in Visa by 101.4% during the third quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock worth $40,000 after acquiring an additional 73 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,983 shares of company stock worth $7,213,146. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Performance

NYSE V opened at $349.27 on Thursday. The firm has a market cap of $650.64 billion, a P/E ratio of 35.21, a price-to-earnings-growth ratio of 2.30 and a beta of 0.97. The company has a quick ratio of 1.28, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The company’s 50 day moving average is $319.07 and its 200-day moving average is $294.37. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $351.25.

Visa (NYSE:V) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts predict that Visa Inc. will post 11.2 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is presently 23.79%.

Wall Street Analysts Forecast Growth

V has been the topic of several research reports. Piper Sandler reiterated an “overweight” rating and set a $383.00 price objective (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. UBS Group upped their price target on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Barclays lifted their price objective on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a report on Monday. Deutsche Bank Aktiengesellschaft lifted their target price on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Raymond James restated an “outperform” rating and set a $393.00 price objective (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $354.73.

Visa 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.