Dock Street Asset Management Inc. Boosts Position in Visa Inc. (NYSE:V)

Dock Street Asset Management Inc. boosted its holdings in Visa Inc. (NYSE:V) by 2.5% during the 4th quarter, Holdings Channel reports. The fund owned 140,292 shares of the credit-card processor’s stock after acquiring an additional 3,420 shares during the quarter. Visa comprises 5.7% of Dock Street Asset Management Inc.’s portfolio, making the stock its 5th largest holding. Dock Street Asset Management Inc.’s holdings in Visa were worth $36,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Hibernia Wealth Partners LLC acquired a new stake in shares of Visa in the third quarter valued at $25,000. Altshuler Shaham Ltd bought a new position in shares of Visa during the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of Visa in the 4th quarter worth approximately $32,000. Financial Freedom LLC bought a new stake in shares of Visa in the 4th quarter worth approximately $32,000. Finally, Nalls Sherbakoff Group LLC lifted its stake in Visa by 545.5% during the third quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock valued at $33,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $150,833.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction dated Wednesday, February 7th. The stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,965 shares of company stock worth $5,256,352. 0.19% of the stock is owned by corporate insiders.

Visa Price Performance

V opened at $269.71 on Friday. The stock has a fifty day moving average price of $279.58 and a 200 day moving average price of $262.89. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96. The stock has a market cap of $495.33 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 1.87 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.07. Visa had a return on equity of 50.02% and a net margin of 53.92%. The business had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.55 billion. During the same period in the previous year, the company earned $2.18 EPS. The firm’s revenue was up 9.3% on a year-over-year basis. Analysts forecast that Visa Inc. will post 9.88 EPS for the current fiscal year.

Visa Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Citigroup upped their price target on Visa from $296.00 to $306.00 and gave the company a “buy” rating in a report on Thursday, January 18th. UBS Group boosted their target price on Visa from $305.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. KeyCorp increased their price target on Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, January 8th. TD Cowen started coverage on Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective on the stock. Finally, Robert W. Baird raised their target price on shares of Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus target price of $298.43.

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.