Corundum Group Inc. Acquires 1,937 Shares of Visa Inc. (NYSE:V)

Corundum Group Inc. boosted its holdings in Visa Inc. (NYSE:V) by 42.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,543 shares of the credit-card processor’s stock after purchasing an additional 1,937 shares during the period. Corundum Group Inc.’s holdings in Visa were worth $2,068,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Peterson Financial Group Inc. acquired a new stake in shares of Visa in the 3rd quarter valued at approximately $26,000. Decker Retirement Planning Inc. bought a new stake in Visa during the fourth quarter worth $26,000. Reston Wealth Management LLC acquired a new stake in Visa in the third quarter valued at $31,000. Modus Advisors LLC bought a new position in shares of Visa in the 4th quarter valued at about $32,000. Finally, West Financial Advisors LLC increased its stake in shares of Visa by 101.4% during the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock worth $40,000 after purchasing an additional 73 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V opened at $323.76 on Wednesday. The company’s 50 day simple moving average is $313.59 and its 200 day simple moving average is $289.09. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $324.58. The stock has a market capitalization of $603.12 billion, a price-to-earnings ratio of 33.27, a price-to-earnings-growth ratio of 2.15 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the company posted $2.33 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, research analysts predict that Visa Inc. will post 11.2 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.73%. Visa’s payout ratio is presently 24.25%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on V. Wells Fargo & Company lifted their price target on Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Robert W. Baird increased their price target on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Susquehanna raised their price target on Visa from $339.00 to $375.00 and gave the company a “positive” rating in a report on Wednesday, December 11th. Morgan Stanley upped their price objective on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $331.92.

About Visa

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.