Pineridge Advisors LLC Acquires 61 Shares of Visa Inc. (NYSE:V)

Pineridge Advisors LLC increased its holdings in Visa Inc. (NYSE:V) by 20.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 357 shares of the credit-card processor’s stock after purchasing an additional 61 shares during the quarter. Pineridge Advisors LLC’s holdings in Visa were worth $113,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Wesbanco Bank Inc. boosted its stake in shares of Visa by 1.4% during the third quarter. Wesbanco Bank Inc. now owns 8,367 shares of the credit-card processor’s stock valued at $2,301,000 after purchasing an additional 114 shares during the period. Creative Planning raised its holdings in Visa by 2.4% during the 3rd quarter. Creative Planning now owns 566,729 shares of the credit-card processor’s stock valued at $155,822,000 after buying an additional 13,318 shares during the last quarter. Swedbank AB boosted its position in Visa by 10.7% during the 3rd quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock valued at $566,153,000 after buying an additional 199,440 shares during the period. Prospect Financial Services LLC purchased a new stake in Visa during the 3rd quarter valued at $357,000. Finally, Petredis Investment Advisors LLC grew its holdings in Visa by 0.3% in the 3rd quarter. Petredis Investment Advisors LLC now owns 22,219 shares of the credit-card processor’s stock worth $6,109,000 after acquiring an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on V shares. JPMorgan Chase & Co. increased their target price on shares of Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Raymond James reiterated an “outperform” rating and issued a $393.00 price objective (up previously from $374.00) on shares of Visa in a report on Friday, January 31st. Robert W. Baird boosted their target price on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Citigroup upped their target price on Visa from $354.00 to $393.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, Oppenheimer lifted their price target on shares of Visa from $375.00 to $390.00 and gave the company an “outperform” rating in a report 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $354.73.

Insider Activity

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the transaction, the insider now directly owns 36,566 shares of the company’s stock, valued at $12,789,689.82. The trade was a 47.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,056 shares of company stock valued at $19,830,050 over the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Performance

Shares of V stock opened at $351.43 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.28 and a current ratio of 1.12. The company has a market capitalization of $652.88 billion, a price-to-earnings ratio of 35.43, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97. Visa Inc. has a one year low of $252.70 and a one year high of $352.12. The company’s 50-day moving average is $322.53 and its 200 day moving average is $297.52.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating the consensus estimate 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 expect that Visa Inc. will post 11.27 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders 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 dividend yield of 0.67%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s payout ratio is currently 23.79%.

About Visa

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.