Summit Financial LLC Acquires 1,269 Shares of Visa Inc. (NYSE:V)

Summit Financial LLC boosted its holdings in Visa Inc. (NYSE:V) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,527 shares of the credit-card processor’s stock after purchasing an additional 1,269 shares during the quarter. Summit Financial LLC’s holdings in Visa were worth $5,344,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in V. Nadler Financial Group Inc. increased its stake in Visa by 2.4% during the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after purchasing an additional 44 shares in the last quarter. Towerpoint Wealth LLC bought a new position in shares of Visa in the fourth quarter valued at approximately $216,000. Andrew Hill Investment Advisors Inc. purchased a new stake in Visa in the 4th quarter valued at $3,427,000. Wayfinding Financial LLC boosted its holdings in Visa by 10.1% during the 3rd quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock worth $406,000 after acquiring an additional 161 shares during the last quarter. Finally, Richelieu Gestion SA purchased a new position in Visa during the fourth quarter worth about $307,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Peter M. Andreski sold 2,615 shares of the firm’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 completion of the transaction, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the sale, 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. In the last three months, insiders have sold 19,874 shares of company stock valued at $5,506,827. 0.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on V. Macquarie increased their price target on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods upped their price objective on Visa from $305.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Evercore ISI boosted their target price on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. UBS Group increased their price target on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Mizuho restated a “neutral” rating and issued a $265.00 price objective on shares of Visa in a research note on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $302.58.

Visa Trading Down 0.5 %

Visa stock traded down $1.29 during trading hours on Wednesday, reaching $267.32. The stock had a trading volume of 6,037,363 shares, compared to its average volume of 5,938,064. The company has a fifty day simple moving average of $278.98 and a 200-day simple moving average of $265.19. Visa Inc. has a 52 week low of $216.14 and a 52 week high of $290.96. The stock has a market cap of $490.94 billion, a PE ratio of 29.86, a PEG ratio of 1.87 and a beta of 0.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40.

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

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be issued a $0.52 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.78%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Visa 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.