Morton Capital Management LLC CA lifted its stake in Visa Inc. (NYSE:V – Free Report) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,039 shares of the credit-card processor’s stock after buying an additional 128 shares during the period. Morton Capital Management LLC CA’s holdings in Visa were worth $791,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Great Lakes Retirement Inc. increased its stake in shares of Visa by 5.6% in the fourth quarter. Great Lakes Retirement Inc. now owns 41,385 shares of the credit-card processor’s stock worth $10,775,000 after buying an additional 2,186 shares during the last quarter. Well Done LLC raised its stake in shares of Visa by 14.1% in the 4th quarter. Well Done LLC now owns 2,450 shares of the credit-card processor’s stock valued at $638,000 after purchasing an additional 302 shares in the last quarter. Cornell Pochily Investment Advisors Inc. lifted its position in shares of Visa by 1.0% during the fourth quarter. Cornell Pochily Investment Advisors Inc. now owns 6,720 shares of the credit-card processor’s stock worth $1,750,000 after purchasing an additional 68 shares during the last quarter. Procyon Advisors LLC grew its stake in Visa by 5.8% in the fourth quarter. Procyon Advisors LLC now owns 58,398 shares of the credit-card processor’s stock worth $15,204,000 after purchasing an additional 3,191 shares in the last quarter. Finally, First National Corp MA ADV raised its stake in Visa by 14.4% during the fourth quarter. First National Corp MA ADV now owns 3,836 shares of the credit-card processor’s stock valued at $999,000 after buying an additional 482 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.
Wall Street Analyst Weigh In
V has been the subject of a number of research analyst reports. Jefferies Financial Group boosted their price target on Visa from $280.00 to $295.00 and gave the company a “buy” rating in a report on Tuesday, December 12th. Citigroup increased their price objective on shares of Visa from $296.00 to $306.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. BMO Capital Markets began coverage on Visa in a research note on Tuesday, December 5th. They issued an “outperform” rating and a $280.00 price objective on the stock. William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Friday, January 26th. Finally, Wedbush boosted their target price on shares of Visa from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $295.82.
Visa Stock Performance
Shares of V traded up $0.06 during mid-day trading on Thursday, reaching $279.08. The company’s stock had a trading volume of 5,775,501 shares, compared to its average volume of 5,649,565. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54. The stock has a market cap of $512.53 billion, a P/E ratio of 32.16, a PEG ratio of 1.94 and a beta of 0.96. Visa Inc. has a 1-year low of $216.14 and a 1-year high of $290.96. The business has a 50-day simple moving average of $279.11 and a two-hundred day simple moving average of $258.66.
Visa (NYSE:V – Get Free Report) last released its quarterly earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.07. The firm had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.55 billion. Visa had a net margin of 53.92% and a return on equity of 50.02%. The business’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.18 EPS. As a group, equities research analysts anticipate that Visa Inc. will post 9.89 earnings per share for the current fiscal year.
Visa Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Thursday, February 8th. Visa’s dividend payout ratio is 23.94%.
Insider Buying and Selling at Visa
In other news, insider Rajat Taneja sold 36,546 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $270.20, for a total value of $9,874,729.20. Following the completion of the transaction, the insider now directly owns 232,112 shares in the company, valued at approximately $62,716,662.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Rajat Taneja sold 36,546 shares of Visa stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $270.20, for a total value of $9,874,729.20. Following the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at $62,716,662.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The disclosure for this sale can be found here. Insiders sold 47,311 shares of company stock valued at $12,832,129 in the last quarter. Company insiders own 0.19% of the company’s stock.
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.
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