Summit X LLC Raises Holdings in Visa Inc. (NYSE:V)

Summit X LLC boosted its position in Visa Inc. (NYSE:V) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,151 shares of the credit-card processor’s stock after buying an additional 37 shares during the period. Summit X LLC’s holdings in Visa were worth $2,576,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of V. Peterson Financial Group Inc. purchased a new stake in Visa in the third quarter valued at approximately $26,000. Decker Retirement Planning Inc. purchased a new stake in Visa in the 4th quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Visa in the 4th quarter worth approximately $27,000. POM Investment Strategies LLC boosted its position in Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares in the last quarter. Finally, Modus Advisors LLC purchased a new stake in Visa in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

NYSE V opened at $331.93 on Wednesday. The stock has a market cap of $616.65 billion, a PE ratio of 33.46, a P/E/G ratio of 2.33 and a beta of 0.95. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The stock has a fifty day simple moving average of $337.01 and a 200-day simple moving average of $309.89.

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

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

Insider Buying and Selling at Visa

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the sale, the insider now owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $363.00, for a total value of $3,129,060.00. Following the sale, the chief executive officer now directly owns 537 shares in the company, valued at $194,931. This trade represents a 94.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,505 shares of company stock valued at $22,290,507 in the last quarter. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on V. Wells Fargo & Company upped their price objective on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. William Blair restated an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Oppenheimer restated an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. UBS Group upped their price objective on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Susquehanna upped their target price on Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Visa 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.