Visa Inc. (NYSE:V) Shares Acquired by Summit Financial LLC

Summit Financial LLC grew its holdings in shares of Visa Inc. (NYSE:V) by 7.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,139 shares of the credit-card processor’s stock after acquiring an additional 2,942 shares during the period. Summit Financial LLC’s holdings in Visa were worth $13,002,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Axiom Investors LLC DE grew its position in shares of Visa by 11.9% during the fourth quarter. Axiom Investors LLC DE now owns 836,418 shares of the credit-card processor’s stock worth $264,342,000 after buying an additional 89,206 shares in the last quarter. FSB Premier Wealth Management Inc. grew its holdings in Visa by 8.7% during the 4th quarter. FSB Premier Wealth Management Inc. now owns 7,238 shares of the credit-card processor’s stock worth $2,288,000 after acquiring an additional 579 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in shares of Visa by 9.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 5,427 shares of the credit-card processor’s stock worth $1,719,000 after purchasing an additional 475 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Visa by 13.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 294,904 shares of the credit-card processor’s stock valued at $93,201,000 after purchasing an additional 33,926 shares in the last quarter. Finally, Mawer Investment Management Ltd. lifted its position in shares of Visa by 18.6% during the fourth quarter. Mawer Investment Management Ltd. now owns 2,516,435 shares of the credit-card processor’s stock worth $795,294,000 after purchasing an additional 395,372 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total value of $13,395,133.50. Following the completion of the transaction, the insider now owns 26,413 shares in the company, valued at $8,991,249.33. This trade represents a 59.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $194,931. This represents a 94.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,205 shares of company stock worth $48,560,961 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Performance

V opened at $342.62 on Monday. The business has a 50 day moving average price of $343.60 and a two-hundred day moving average price of $315.49. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $636.51 billion, a price-to-earnings ratio of 34.54, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54.

Visa (NYSE:V) last announced its quarterly earnings data 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 return on equity of 54.79% and a net margin of 54.27%. Research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.69%. Visa’s dividend payout ratio is currently 23.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on V shares. Bank of America raised their price objective on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Susquehanna restated a “positive” rating on shares of Visa in a research report on Friday, March 21st. Raymond James reaffirmed an “outperform” rating and set a $393.00 price objective (up previously from $374.00) on shares of Visa in a research report on Friday, January 31st. William Blair reissued an “outperform” rating on shares of Visa in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their target price on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $355.84.

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.