Suncoast Equity Management Has $40.56 Million Stock Position in Visa Inc. (NYSE:V)

Suncoast Equity Management grew its position in shares of Visa Inc. (NYSE:V) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,778 shares of the credit-card processor’s stock after acquiring an additional 1,706 shares during the quarter. Visa comprises 5.4% of Suncoast Equity Management’s holdings, making the stock its 7th largest holding. Suncoast Equity Management’s holdings in Visa were worth $40,557,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investment Advisory Services Inc. TX ADV increased its holdings in shares of Visa by 2.0% during the third quarter. Investment Advisory Services Inc. TX ADV now owns 3,930 shares of the credit-card processor’s stock valued at $904,000 after acquiring an additional 78 shares in the last quarter. Towerpoint Wealth LLC bought a new stake in shares of Visa during the fourth quarter valued at approximately $216,000. Wayfinding Financial LLC increased its holdings in shares of Visa by 10.1% during the third quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock valued at $406,000 after acquiring an additional 161 shares in the last quarter. Richelieu Gestion SA purchased a new position in shares of Visa during the fourth quarter valued at approximately $307,000. Finally, Cooper Financial Group boosted its position in shares of Visa by 6.4% during the fourth quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock valued at $2,064,000 after buying an additional 476 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.5 %

V stock opened at $272.69 on Thursday. The stock has a fifty day moving average of $279.80 and a 200-day moving average of $262.56. The company has a market capitalization of $500.80 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 1.87 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.45 and a current ratio of 1.45. Visa Inc. has a fifty-two week low of $216.14 and a fifty-two week high of $290.96.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. The business had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.55 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.18 EPS. As a group, equities research analysts predict that Visa Inc. will post 9.88 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. Visa’s payout ratio is currently 23.94%.

Analyst Ratings Changes

V has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Robert W. Baird lifted their target price on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday. Royal Bank of Canada lifted their target price on Visa from $290.00 to $309.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Monness Crespi & Hardt initiated coverage on Visa in a research report on Wednesday, December 20th. They set a “neutral” rating on the stock. Finally, Mizuho reaffirmed a “neutral” rating and set a $265.00 target price on shares of Visa in a research report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $298.43.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following 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. Insiders have sold a total of 55,511 shares of company stock valued at $15,131,081 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.

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.