Stokes Family Office LLC Has $1.70 Million Stock Position in Visa Inc. (NYSE:V)

Stokes Family Office LLC reduced its position in Visa Inc. (NYSE:V) by 64.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,538 shares of the credit-card processor’s stock after selling 11,654 shares during the period. Stokes Family Office LLC’s holdings in Visa were worth $1,702,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in V. International Assets Investment Management LLC boosted its position in shares of Visa by 17,418.7% in the 4th quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after purchasing an additional 4,710,188 shares during the last quarter. FMR LLC boosted its position in shares of Visa by 4.7% in the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock worth $11,582,785,000 after purchasing an additional 2,257,605 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Visa in the 3rd quarter worth $358,349,000. The Manufacturers Life Insurance Company boosted its position in shares of Visa by 34.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,929,979 shares of the credit-card processor’s stock worth $903,955,000 after purchasing an additional 999,167 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Visa by 28.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,983,190 shares of the credit-card processor’s stock worth $916,174,000 after purchasing an additional 871,439 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

NYSE V traded up $0.88 during trading on Friday, reaching $268.49. 3,810,049 shares of the company’s stock were exchanged, compared to its average volume of 5,903,757. The business has a 50 day moving average price of $278.47 and a 200-day moving average price of $265.22. The stock has a market capitalization of $493.08 billion, a P/E ratio of 30.00, a PEG ratio of 1.83 and a beta of 0.95. 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 Inc. has a fifty-two week low of $216.14 and a fifty-two week high of $290.96.

Visa (NYSE:V) last announced 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. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the previous year, the business earned $2.09 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc. will post 9.93 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, May 16th. Visa’s dividend payout ratio is presently 23.24%.

Insider Transactions at Visa

In related news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. Insiders sold a total of 11,724 shares of company stock worth $3,278,698 over the last quarter. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on V shares. TD Cowen started coverage on Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price on the stock. Wedbush lifted their target price on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Oppenheimer lifted their target price on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Mizuho lifted their target price on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, UBS Group lifted their target price on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average price target of $303.00.

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.