Visa Inc. (NYSE:V) Shares Purchased by Princeton Global Asset Management LLC


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Princeton Global Asset Management LLC boosted its stake in Visa Inc. (NYSE:V) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,857 shares of the credit-card processor’s stock after acquiring an additional 604 shares during the quarter. Visa comprises about 1.8% of Princeton Global Asset Management LLC’s holdings, making the stock its 11th largest holding. Princeton Global Asset Management LLC’s holdings in Visa were worth $5,218,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Essex Financial Services Inc. lifted its stake in Visa by 9.3% during the fourth quarter. Essex Financial Services Inc. now owns 22,867 shares of the credit-card processor’s stock worth $5,002,000 after purchasing an additional 1,944 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of Visa by 4.1% during the 4th quarter. Ritholtz Wealth Management now owns 10,442 shares of the credit-card processor’s stock worth $2,284,000 after purchasing an additional 410 shares in the last quarter. Institute for Wealth Management LLC. grew its holdings in shares of Visa by 4.9% during the 4th quarter. Institute for Wealth Management LLC. now owns 13,588 shares of the credit-card processor’s stock worth $2,972,000 after purchasing an additional 629 shares in the last quarter. Altium Wealth Management LLC raised its position in Visa by 4.0% in the 4th quarter. Altium Wealth Management LLC now owns 20,216 shares of the credit-card processor’s stock valued at $4,422,000 after purchasing an additional 776 shares during the last quarter. Finally, S&CO Inc. increased its holdings in Visa by 3.8% in the third quarter. S&CO Inc. now owns 5,147 shares of the credit-card processor’s stock valued at $1,029,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 80.50% of the company’s stock.

V has been the topic of a number of recent research reports. Jefferies Financial Group upgraded Visa from a “hold” rating to a “buy” rating and increased their target price for the stock from $195.00 to $250.00 in a research note on Wednesday, January 13th. Wells Fargo & Company raised their target price on Visa from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, November 19th. KeyCorp upped their price target on shares of Visa from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, January 13th. Morgan Stanley upped their price target on shares of Visa from $218.00 to $233.00 and gave the stock an “overweight” rating in a report on Wednesday, January 20th. Finally, Raymond James cut their target price on shares of Visa from $217.00 to $211.00 and set an “outperform” rating for the company in a research report on Thursday, October 29th. Five equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $222.64.

In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction on Monday, November 30th. The shares were sold at an average price of $209.40, for a total value of $1,884,600.00. Following the transaction, the chief executive officer now directly owns 132,660 shares in the company, valued at approximately $27,779,004. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Ryan Mcinerney sold 11,193 shares of the stock in a transaction on Monday, February 8th. The shares were sold at an average price of $210.00, for a total transaction of $2,350,530.00. Following the completion of the sale, the president now directly owns 11,193 shares of the company’s stock, valued at $2,350,530. The disclosure for this sale can be found here. Insiders sold 82,398 shares of company stock valued at $17,896,223 over the last quarter. Insiders own 0.19% of the company’s stock.

Visa stock traded up $2.14 during mid-day trading on Tuesday, hitting $210.46. The company’s stock had a trading volume of 147,314 shares, compared to its average volume of 10,284,387. Visa Inc. has a 1 year low of $133.93 and a 1 year high of $220.39. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $410.88 billion, a PE ratio of 42.58, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96. The stock’s fifty day moving average is $205.99 and its two-hundred day moving average is $204.63.

Visa (NYSE:V) last released its earnings results on Thursday, January 28th. The credit-card processor reported $1.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.14. Visa had a net margin of 49.74% and a return on equity of 37.22%. The firm had revenue of $5.69 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the previous year, the company earned $1.46 EPS. Visa’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, equities analysts expect that Visa Inc. will post 5.45 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 1st. Stockholders of record on Friday, February 12th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Thursday, February 11th. Visa’s dividend payout ratio (DPR) is presently 25.40%.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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