Tritonpoint Wealth LLC Buys New Position in Visa Inc. (NYSE:V)

Tritonpoint Wealth LLC bought a new stake in shares of Visa Inc. (NYSE:V) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 62,523 shares of the credit-card processor’s stock, valued at approximately $16,278,000. Visa accounts for 1.6% of Tritonpoint Wealth LLC’s portfolio, making the stock its 11th biggest position.

A number of other hedge funds also recently bought and sold shares of the stock. State Street Corp raised its position in Visa by 3.7% in the 1st quarter. State Street Corp now owns 72,897,112 shares of the credit-card processor’s stock valued at $16,435,339,000 after purchasing an additional 2,572,159 shares in the last quarter. Morgan Stanley raised its position in shares of Visa by 13.0% during the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock worth $10,621,287,000 after acquiring an additional 5,864,340 shares in the last quarter. FMR LLC raised its position in shares of Visa by 4.7% during the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock worth $11,582,785,000 after acquiring an additional 2,257,605 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of Visa by 116,608.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock worth $5,090,978,000 after acquiring an additional 24,483,134 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Visa by 5.7% during the 2nd quarter. Royal Bank of Canada now owns 18,879,347 shares of the credit-card processor’s stock worth $4,483,466,000 after acquiring an additional 1,015,104 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

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 transaction, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The sale was disclosed in a legal filing with the SEC, which is accessible 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 transaction, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Rajat Taneja sold 36,546 shares of the business’s 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 of the company’s stock, valued at $62,716,662.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,511 shares of company stock valued at $15,131,081. 0.19% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group raised their target price on Visa from $280.00 to $295.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Redburn Atlantic reissued a “neutral” rating and set a $307.00 target price on shares of Visa in a research report on Wednesday, March 27th. KeyCorp raised their target price on Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. Monness Crespi & Hardt initiated coverage on Visa in a research report on Wednesday, December 20th. They set a “neutral” rating on the stock. Finally, Wells Fargo & Company lifted their price target on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average price target of $295.82.

Visa Stock Up 0.2 %

Visa stock opened at $277.76 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45. Visa Inc. has a 1-year low of $216.14 and a 1-year high of $290.96. The company has a market cap of $510.11 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 1.91 and a beta of 0.96. The stock’s 50 day moving average price is $280.17 and its 200 day moving average price is $260.68.

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

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio is presently 23.94%.

Visa Company 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.