Naviter Wealth LLC Increases Position in Visa Inc. (NYSE:V)

Naviter Wealth LLC raised its position in shares of Visa Inc. (NYSE:V) by 21.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,435 shares of the credit-card processor’s stock after purchasing an additional 1,647 shares during the period. Naviter Wealth LLC’s holdings in Visa were worth $2,456,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in Visa by 17,418.7% during the fourth quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock valued at $1,233,338,000 after buying an additional 4,710,188 shares during the period. FMR LLC lifted its position in Visa by 4.7% in the third quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after purchasing an additional 2,257,605 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Visa in the third quarter worth $358,349,000. The Manufacturers Life Insurance Company raised its holdings in Visa by 34.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,929,979 shares of the credit-card processor’s stock valued at $903,955,000 after buying an additional 999,167 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Visa by 28.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 3,983,190 shares of the credit-card processor’s stock valued at $916,174,000 after buying an additional 871,439 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Visa stock traded down $2.11 during trading on Monday, reaching $272.41. The company had a trading volume of 1,570,984 shares, compared to its average volume of 5,897,247. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The firm’s 50-day simple moving average is $279.24 and its 200 day simple moving average is $264.73. The firm has a market capitalization of $500.28 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. Visa Inc. has a 52 week low of $216.14 and a 52 week high of $290.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The business had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.09 earnings per share. Sell-side analysts forecast that Visa Inc. will post 9.89 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be paid a $0.52 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.76%. Visa’s payout ratio is 23.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Raymond James increased their price objective on Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Redburn Atlantic reaffirmed a “neutral” rating and issued a $307.00 price target on shares of Visa in a research note on Wednesday, March 27th. Keefe, Bruyette & Woods boosted their price objective on shares of Visa from $305.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Royal Bank of Canada raised their target price on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, KeyCorp boosted their price target on shares of Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, January 8th. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus price target of $302.58.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Visa news, 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 transaction of $729,271.20. Following the sale, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lloyd Carney sold 909 shares of Visa stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares in the company, valued at $713,950.05. The disclosure for this sale can be found here. Insiders sold 19,874 shares of company stock worth $5,506,827 in the last three months. 0.19% of the stock is owned by company insiders.

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.