Visa Inc. (NYSE:V) Stake Boosted by McIlrath & Eck LLC

McIlrath & Eck LLC lifted its stake in shares of Visa Inc. (NYSE:V) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,668 shares of the credit-card processor’s stock after purchasing an additional 126 shares during the quarter. McIlrath & Eck LLC’s holdings in Visa were worth $1,159,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Visa by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock valued at $12,729,901,000 after purchasing an additional 1,689,926 shares in the last quarter. Capital International Investors lifted its holdings in Visa by 3.8% in the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock worth $7,526,660,000 after purchasing an additional 866,596 shares during the period. Capital World Investors grew its position in Visa by 1.0% in the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock valued at $7,356,614,000 after buying an additional 241,057 shares in the last quarter. Finally, Northern Trust Corp grew its position in Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock valued at $5,771,116,000 after buying an additional 2,785,707 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Down 0.3%

NYSE:V opened at $366.96 on Wednesday. The business’s fifty day moving average price is $340.06 and its 200 day moving average price is $330.68. The firm has a market capitalization of $677.10 billion, a price-to-earnings ratio of 36.99, a PEG ratio of 2.33 and a beta of 0.96. 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 1-year low of $252.70 and a 1-year high of $369.15.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the company earned $2.51 earnings per share. Visa’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa’s dividend payout ratio is presently 23.72%.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $8,642,333.60. The trade was a 59.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were 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 owns 537 shares of the company’s stock, valued at approximately $194,931. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,948 shares of company stock valued at $41,548,282 over the last three months. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on V. BMO Capital Markets upped their price target on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Raymond James restated an “outperform” rating and issued a $393.00 target price (up from $374.00) on shares of Visa in a research report on Friday, January 31st. Evercore ISI initiated coverage on Visa in a research report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price target on the stock. Citigroup reissued a “neutral” rating on shares of Visa in a research note on Thursday, February 13th. Finally, Barclays raised their target price on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $362.38.

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.