JLB & Associates Inc. Boosts Position in Visa Inc. (NYSE:V)

JLB & Associates Inc. raised its position in Visa Inc. (NYSE:V) by 11.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 15,998 shares of the credit-card processor’s stock after purchasing an additional 1,667 shares during the period. JLB & Associates Inc.’s holdings in Visa were worth $5,607,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in Visa in the 4th quarter valued at approximately $5,171,271,000. GAMMA Investing LLC raised its holdings in shares of Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after acquiring an additional 14,723,050 shares during the last quarter. Vanguard Group Inc. lifted its position 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 valued at $50,378,465,000 after acquiring an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Visa during the fourth quarter valued at $1,955,403,000. Finally, Proficio Capital Partners LLC increased its position in Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after purchasing an additional 3,926,049 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.7%

Shares of Visa stock opened at $355.23 on Tuesday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The company has a market capitalization of $655.46 billion, a PE ratio of 35.81, a P/E/G ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50-day moving average of $350.71 and a 200-day moving average of $338.05.

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

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. Visa’s dividend payout ratio (DPR) is presently 23.72%.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 39,350 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total transaction of $13,395,133.50. Following the transaction, the insider now directly owns 26,413 shares in the company, valued at $8,991,249.33. This trade represents a 59.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the transaction, the chief executive officer now directly owns 537 shares of the company’s stock, valued at approximately $188,186.28. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,448 shares of company stock valued at $50,133,659 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on V shares. Barclays restated an “overweight” rating on shares of Visa in a report on Friday. William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. The Goldman Sachs Group began coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “neutral” rating for the company. Macquarie reduced their price target on Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Finally, UBS Group lifted their price objective on Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $372.80.

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.