Saybrook Capital NC Has $20.79 Million Stock Position in Visa Inc. (NYSE:V)

Saybrook Capital NC lessened its stake in Visa Inc. (NYSE:V) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,794 shares of the credit-card processor’s stock after selling 492 shares during the period. Visa accounts for 5.6% of Saybrook Capital NC’s portfolio, making the stock its 6th largest holding. Saybrook Capital NC’s holdings in Visa were worth $20,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Swedbank AB grew its holdings in Visa by 10.7% during the 3rd quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock worth $566,153,000 after acquiring an additional 199,440 shares during the period. Howard Capital Management Group LLC grew its holdings in Visa by 0.6% during the 3rd quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock worth $29,242,000 after acquiring an additional 610 shares during the period. Pettinga Financial Advisors LLC acquired a new stake in Visa during the 3rd quarter worth $228,000. Principal Financial Group Inc. grew its holdings in Visa by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock worth $1,576,366,000 after acquiring an additional 411,210 shares during the period. Finally, Verity Asset Management Inc. grew its holdings in Visa by 32.9% during the 3rd quarter. Verity Asset Management Inc. now owns 2,482 shares of the credit-card processor’s stock worth $683,000 after acquiring an additional 615 shares during the period. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of a number of analyst reports. Barclays lifted their target price on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Morgan Stanley boosted their price target on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. boosted their price target on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Oppenheimer reissued an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Finally, Wells Fargo & Company boosted their price target on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $353.96.

Visa Trading Up 0.5 %

Shares of NYSE:V opened at $345.79 on Friday. The company’s 50-day moving average price is $336.18 and its two-hundred day moving average price is $308.63. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a one year low of $252.70 and a one year high of $366.54. The stock has a market capitalization of $642.41 billion, a PE ratio of 34.86, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa’s payout ratio is 23.79%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the sale, the insider now directly owns 36,566 shares in the company, valued at approximately $12,789,689.82. The trade was a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,505 shares of company stock valued at $22,290,507. 0.13% of the stock is owned by company insiders.

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.