Nemes Rush Group LLC Buys 2,942 Shares of Visa Inc. (NYSE:V)

Nemes Rush Group LLC lifted its stake in shares of Visa Inc. (NYSE:V) by 9.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 35,606 shares of the credit-card processor’s stock after buying an additional 2,942 shares during the quarter. Visa comprises about 1.4% of Nemes Rush Group LLC’s portfolio, making the stock its 24th largest holding. Nemes Rush Group LLC’s holdings in Visa were worth $11,253,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of V. Vanguard Group Inc. boosted its position in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares in the last quarter. State Street Corp lifted its position in shares of Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after buying an additional 3,327,977 shares during the last quarter. Geode Capital Management LLC boosted its stake in Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after buying an additional 2,772,549 shares in the last quarter. Norges Bank bought a new position in Visa in the fourth quarter valued at about $5,171,271,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Visa by 6.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,241,003 shares of the credit-card processor’s stock worth $3,868,646,000 after acquiring an additional 718,558 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Visa stock opened at $350.68 on Tuesday. The firm has a 50-day moving average of $344.22 and a two-hundred day moving average of $315.95. 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 1 year low of $252.70 and a 1 year high of $366.54. The stock has a market cap of $651.48 billion, a price-to-earnings ratio of 35.35, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95.

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

Visa Dividend Announcement

The business also recently declared 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 0.67%. Visa’s dividend payout ratio is presently 23.79%.

Insider Buying and Selling

In other Visa news, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the sale, the chief accounting officer now owns 4,488 shares of the company’s stock, valued at approximately $1,569,094.56. This trade represents a 34.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the sale, the insider now owns 26,413 shares of the company’s stock, valued at $8,642,333.60. The trade was a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock worth $48,560,961 in the last three months. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. William Blair reiterated an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Oppenheimer reiterated an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a report on Thursday, February 13th. Bank of America lifted their price target on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $355.84.

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.