NorthCrest Asset Manangement LLC Has $12.04 Million Holdings in Visa Inc. (NYSE:V)

NorthCrest Asset Manangement LLC raised its holdings in Visa Inc. (NYSE:V) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,082 shares of the credit-card processor’s stock after acquiring an additional 181 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Visa were worth $12,036,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Visa during the fourth quarter worth about $5,171,271,000. Vanguard Group Inc. lifted 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 acquiring an additional 7,079,706 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Visa in the fourth quarter worth approximately $1,955,403,000. Proficio Capital Partners LLC lifted its stake in Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after buying an additional 3,926,049 shares during the period. Finally, Northern Trust Corp lifted its stake in Visa by 18.0% in the fourth 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 during the period. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at $194,931. This represents 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 worth $41,548,282 over the last ninety days. 0.13% of the stock is owned by corporate insiders.

Visa Price Performance

V opened at $359.21 on Wednesday. The stock’s 50 day simple moving average is $342.15 and its 200 day simple moving average is $332.61. 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 $369.15. The firm has a market cap of $662.80 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the company earned $2.51 EPS. Visa’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. Visa’s dividend payout ratio is presently 23.72%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on V. Raymond James reissued an “outperform” rating and issued a $393.00 price target (up from $374.00) on shares of Visa in a research note on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. UBS Group lowered their target price on Visa from $400.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. BMO Capital Markets upped their price target on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Finally, Evercore ISI assumed coverage on Visa in a report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price target for the company. Six research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $365.71.

About Visa

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.