Suncoast Equity Management Has $47.35 Million Stake in Visa Inc. (NYSE:V)

Suncoast Equity Management cut its position in shares of Visa Inc. (NYSE:V) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 149,822 shares of the credit-card processor’s stock after selling 2,543 shares during the quarter. Visa accounts for about 5.3% of Suncoast Equity Management’s portfolio, making the stock its 5th biggest holding. Suncoast Equity Management’s holdings in Visa were worth $47,350,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of V. Trinity Legacy Partners LLC boosted its position in Visa by 1.1% during the fourth quarter. Trinity Legacy Partners LLC now owns 18,256 shares of the credit-card processor’s stock valued at $5,770,000 after purchasing an additional 190 shares during the last quarter. Financial Harvest LLC acquired a new position in Visa during the fourth quarter valued at approximately $302,000. Nicholson Wealth Management Group LLC boosted its position in Visa by 71.1% during the fourth quarter. Nicholson Wealth Management Group LLC now owns 5,772 shares of the credit-card processor’s stock valued at $1,824,000 after purchasing an additional 2,398 shares during the last quarter. Aspen Investment Management Inc boosted its position in Visa by 1.1% during the fourth quarter. Aspen Investment Management Inc now owns 7,148 shares of the credit-card processor’s stock valued at $2,259,000 after purchasing an additional 76 shares during the last quarter. Finally, Prakash Investment Advisors LLC acquired a new position in Visa during the fourth quarter valued at approximately $221,000. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

NYSE:V opened at $348.27 on Friday. The stock has a fifty day moving average price of $329.14 and a 200-day moving average price of $302.34. The company has a market cap of $647.01 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 2.33 and a beta of 0.97. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $357.15.

Visa (NYSE:V) last released its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa’s payout ratio is 23.79%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 55,885 shares of company stock worth $19,161,447. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on V. Morgan Stanley increased their price target on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada raised their price objective on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Bank of America raised their price objective on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company raised their price objective on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Six investment 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $353.96.

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.