Visa Inc. (NYSE:V) Shares Purchased by Drake & Associates LLC

Drake & Associates LLC lifted its holdings in Visa Inc. (NYSE:V) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,265 shares of the credit-card processor’s stock after acquiring an additional 49 shares during the quarter. Drake & Associates LLC’s holdings in Visa were worth $590,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Investment Advisory Services Inc. TX ADV grew its position in Visa by 2.0% during the third quarter. Investment Advisory Services Inc. TX ADV now owns 3,930 shares of the credit-card processor’s stock valued at $904,000 after buying an additional 78 shares during the period. Towerpoint Wealth LLC acquired a new stake in Visa during the fourth quarter valued at $216,000. Wayfinding Financial LLC grew its position in Visa by 10.1% during the third quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock valued at $406,000 after buying an additional 161 shares during the period. Richelieu Gestion SA acquired a new stake in Visa during the fourth quarter valued at $307,000. Finally, Cooper Financial Group grew its position in Visa by 6.4% during the fourth quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock valued at $2,064,000 after buying an additional 476 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

Visa stock opened at $271.34 on Wednesday. The company’s 50 day simple moving average is $279.93 and its 200-day simple moving average is $262.49. The company has a market capitalization of $498.32 billion, a price-to-earnings ratio of 31.22, a price-to-earnings-growth ratio of 1.87 and a beta of 0.96. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.45 and a current ratio of 1.45.

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

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Thursday, February 8th. Visa’s dividend payout ratio (DPR) is 23.94%.

Insider Activity at Visa

In related news, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the transaction, the chief accounting officer now owns 4,898 shares in the company, valued at $1,365,954.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the transaction, the chief accounting officer now owns 4,898 shares in the company, valued at $1,365,954.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rajat Taneja sold 36,546 shares of Visa stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the completion of the transaction, the insider now 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 quarter, insiders sold 55,511 shares of company stock worth $15,131,081. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on V shares. Evercore ISI raised their price target on shares of Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Citigroup lifted their target price on shares of Visa from $296.00 to $306.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Mizuho reiterated a “neutral” rating and issued a $265.00 target price on shares of Visa in a research report on Wednesday, March 27th. Raymond James lifted their target price on shares of Visa from $287.00 to $311.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Finally, Susquehanna lifted their target price on shares of Visa from $300.00 to $326.00 and gave the company a “positive” rating in a research report on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $296.87.

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.