Visa Inc. (NYSE:V) Shares Acquired by Summitry LLC

Summitry LLC boosted its stake in Visa Inc. (NYSE:V) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,613 shares of the credit-card processor’s stock after buying an additional 5,232 shares during the quarter. Visa makes up about 4.9% of Summitry LLC’s investment portfolio, making the stock its 5th largest position. Summitry LLC’s holdings in Visa were worth $101,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of V. Vanguard Group Inc. raised its stake in shares of Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after acquiring an additional 7,079,706 shares during the last quarter. State Street Corp increased its holdings in Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after purchasing an additional 3,327,977 shares in the last quarter. FMR LLC raised its position in Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after purchasing an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC boosted its stake in Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after purchasing an additional 2,772,549 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Visa by 6.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,241,003 shares of the credit-card processor’s stock worth $3,868,646,000 after purchasing an additional 718,558 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on V. UBS Group upped their price target on shares of Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Citigroup reiterated a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Bank of America raised their price target on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Finally, Susquehanna restated a “positive” rating on shares of Visa in a research report on Friday. Six research 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $353.96.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total value of $13,395,133.50. Following the sale, the insider now owns 26,413 shares in the company, valued at approximately $8,991,249.33. This represents a 59.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,205 shares of company stock worth $48,560,961. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Up 0.3 %

Shares of V stock opened at $344.95 on Wednesday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a fifty day moving average of $341.94 and a 200-day moving average of $314.21. The company has a market capitalization of $640.84 billion, a price-to-earnings ratio of 34.77, a P/E/G ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio is presently 23.79%.

About Visa

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.