Fortis Capital Management LLC Has $5.82 Million Stock Position in Visa Inc. (NYSE:V)

Fortis Capital Management LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 2.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,399 shares of the credit-card processor’s stock after purchasing an additional 478 shares during the quarter. Visa accounts for 1.1% of Fortis Capital Management LLC’s portfolio, making the stock its 23rd biggest position. Fortis Capital Management LLC’s holdings in Visa were worth $5,815,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new position in shares of Visa during the 4th quarter worth about $217,013,000. Knights of Columbus Asset Advisors LLC boosted its stake in Visa by 0.6% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 31,497 shares of the credit-card processor’s stock worth $9,954,000 after acquiring an additional 200 shares during the last quarter. Umpqua Bank grew its holdings in Visa by 3.1% during the fourth quarter. Umpqua Bank now owns 9,905 shares of the credit-card processor’s stock valued at $3,062,000 after purchasing an additional 295 shares during the period. Hillsdale Investment Management Inc. increased its stake in Visa by 49.9% in the fourth quarter. Hillsdale Investment Management Inc. now owns 3,005 shares of the credit-card processor’s stock valued at $950,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Intellus Advisors LLC acquired a new stake in Visa in the fourth quarter worth $1,242,000. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on V. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Thursday. Citigroup reissued a “neutral” rating on shares of Visa in a research note on Thursday, February 13th. Susquehanna reaffirmed a “positive” rating on shares of Visa in a research report on Friday. Wells Fargo & Company lifted their price objective on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group increased their target price on Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $353.96.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the transaction, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at approximately $1,569,094.56. The trade was a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock worth $48,560,961 in the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Visa Trading Down 0.9 %

Shares of NYSE:V opened at $336.51 on Friday. 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 company has a 50-day simple moving average of $340.48 and a 200 day simple moving average of $313.06. The company has a market capitalization of $625.15 billion, a P/E ratio of 33.92, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $366.54.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s payout ratio is 23.79%.

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.