Manitou Investment Management Ltd. Has $1.44 Million Stake in Visa Inc. (NYSE:V)

Manitou Investment Management Ltd. raised its position in Visa Inc. (NYSE:V) by 25.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,094 shares of the credit-card processor’s stock after acquiring an additional 819 shares during the quarter. Visa makes up about 0.3% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 19th largest holding. Manitou Investment Management Ltd.’s holdings in Visa were worth $1,435,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hirtle Callaghan & Co LLC raised its holdings in Visa by 1.3% in the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock worth $724,000 after buying an additional 29 shares during the last quarter. FWL Investment Management LLC grew its stake in shares of Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock worth $2,005,000 after acquiring an additional 29 shares during the period. Elevation Wealth Partners LLC lifted its position in Visa by 3.3% during the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock valued at $297,000 after purchasing an additional 30 shares during the period. Warther Private Wealth LLC grew its position in Visa by 1.0% in the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock worth $928,000 after purchasing an additional 30 shares during the period. Finally, Valmark Advisers Inc. raised its stake in Visa by 0.4% during the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after buying an additional 30 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 46,214 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at $9,772,810. This trade represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,162 shares of company stock worth $58,645,479. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Citigroup initiated coverage on Visa in a research note on Monday, June 2nd. They issued a “buy” rating on the stock. UBS Group lifted their target price on Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Evercore ISI began coverage on shares of Visa in a report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price target on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “neutral” rating for the company. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $372.80.

Visa Price Performance

Shares of Visa stock opened at $366.72 on Tuesday. The stock has a market cap of $676.66 billion, a price-to-earnings ratio of 36.97, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a 50 day moving average price of $345.86 and a 200-day moving average price of $336.28. Visa Inc. has a one year low of $252.70 and a one year high of $371.00.

Visa (NYSE:V) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter in the prior year, the firm posted $2.51 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. Equities analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. Visa’s payout ratio is 23.72%.

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.