Magnus Financial Group LLC Acquires 317 Shares of Visa Inc. (NYSE:V)

Magnus Financial Group LLC increased its holdings in Visa Inc. (NYSE:V) by 2.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 14,279 shares of the credit-card processor’s stock after buying an additional 317 shares during the quarter. Magnus Financial Group LLC’s holdings in Visa were worth $3,717,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. FMR LLC grew its holdings in shares of Visa by 4.7% in the third quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock worth $11,582,785,000 after acquiring an additional 2,257,605 shares during the period. Northern Trust Corp boosted its position in Visa by 4.7% in the third quarter. Northern Trust Corp now owns 17,073,700 shares of the credit-card processor’s stock worth $3,927,122,000 after purchasing an additional 763,505 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Visa by 2.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock valued at $3,272,846,000 after purchasing an additional 374,489 shares during the period. Jennison Associates LLC increased its position in shares of Visa by 0.7% during the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after purchasing an additional 85,123 shares during the last quarter. Finally, Brown Advisory Inc. lifted its stake in shares of Visa by 1.5% in the 3rd quarter. Brown Advisory Inc. now owns 7,542,434 shares of the credit-card processor’s stock worth $1,734,835,000 after purchasing an additional 108,280 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on V shares. William Blair reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday. Royal Bank of Canada lifted their price objective on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research report on Wednesday. Raymond James raised their target price on shares of Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods upped their price target on shares of Visa from $305.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Finally, KeyCorp lifted their target price on shares of Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, January 8th. Five research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $302.58.

Insider Buying and Selling

In other news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated 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 directly owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Lloyd Carney sold 909 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. 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 insiders.

Visa Trading Down 0.2 %

V stock traded down $0.64 during midday trading on Friday, reaching $274.52. 6,840,615 shares of the company traded hands, compared to its average volume of 6,528,673. The firm has a market capitalization of $504.16 billion, a price-to-earnings ratio of 30.67, a P/E/G 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. The business has a 50 day moving average of $279.24 and a 200-day moving average of $264.52. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.45 and a current ratio of 1.40.

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

Visa Dividend Announcement

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

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.