Princeton Global Asset Management LLC Has $6.47 Million Stock Position in Visa Inc. (NYSE:V)

Princeton Global Asset Management LLC increased its position in shares of Visa Inc. (NYSE:VFree Report) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,865 shares of the credit-card processor’s stock after buying an additional 612 shares during the quarter. Visa comprises about 1.6% of Princeton Global Asset Management LLC’s portfolio, making the stock its 14th biggest position. Princeton Global Asset Management LLC’s holdings in Visa were worth $6,474,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Hibernia Wealth Partners LLC purchased a new stake in shares of Visa in the third quarter worth approximately $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Visa in the third quarter worth approximately $25,000. West Tower Group LLC purchased a new stake in shares of Visa in the second quarter worth approximately $30,000. Financial Freedom LLC purchased a new stake in shares of Visa in the fourth quarter worth approximately $32,000. Finally, Nalls Sherbakoff Group LLC raised its stake in shares of Visa by 545.5% in the third quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock worth $33,000 after purchasing an additional 120 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on V. Redburn Atlantic reissued a “neutral” rating and issued a $307.00 price objective on shares of Visa in a research note on Wednesday, March 27th. Wells Fargo & Company increased their price objective on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Royal Bank of Canada increased their price objective on Visa from $290.00 to $309.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Susquehanna increased their price objective on Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a research note on Friday, January 26th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $265.00 target price on shares of Visa in a report on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $295.82.

Check Out Our Latest Report on Visa

Insider Activity

In other news, insider Rajat Taneja sold 36,546 shares of Visa stock in a transaction on Friday, January 19th. The stock was sold at an average price of $270.20, for a total value of $9,874,729.20. Following the completion of the transaction, the insider now directly owns 232,112 shares in the company, valued at $62,716,662.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction 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 sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Rajat Taneja sold 36,546 shares of Visa stock in a transaction on Friday, January 19th. The shares were sold at an average price of $270.20, for a total value of $9,874,729.20. Following the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,511 shares of company stock worth $15,131,081. 0.19% of the stock is owned by corporate insiders.

Visa Price Performance

Shares of NYSE V opened at $276.96 on Thursday. Visa Inc. has a 1-year low of $216.14 and a 1-year high of $290.96. The stock has a fifty day simple moving average of $279.87 and a two-hundred day simple moving average of $259.82. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54. The firm has a market cap of $508.64 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.07. The company had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.55 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.18 earnings per share. Analysts anticipate that Visa Inc. will post 9.89 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Thursday, February 8th. Visa’s dividend payout ratio (DPR) is presently 23.94%.

About Visa

(Free Report)

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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