Sitrin Capital Management LLC Buys 197 Shares of Visa Inc. (NYSE:V)

Sitrin Capital Management LLC lifted its position in Visa Inc. (NYSE:V) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,250 shares of the credit-card processor’s stock after buying an additional 197 shares during the period. Visa comprises 3.9% of Sitrin Capital Management LLC’s holdings, making the stock its 7th largest position. Sitrin Capital Management LLC’s holdings in Visa were worth $7,664,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in V. Peterson Financial Group Inc. bought a new stake in shares of Visa in the 3rd quarter valued at $26,000. Decker Retirement Planning Inc. bought a new stake in shares of Visa in the 4th quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in Visa during the 4th quarter worth about $27,000. Reston Wealth Management LLC bought a new position in Visa during the 3rd quarter worth about $31,000. Finally, POM Investment Strategies LLC increased its holdings in Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of a number of research reports. William Blair reiterated an “outperform” rating on shares of Visa in a report on Friday, January 31st. Wells Fargo & Company raised their price objective on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Susquehanna raised their price objective on Visa from $395.00 to $410.00 and gave the company a “positive” rating in a report on Friday, February 21st. Oppenheimer restated an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $353.96.

Visa Stock Up 1.4 %

Shares of V opened at $355.56 on Friday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $360.31. The firm’s 50 day moving average is $332.12 and its 200-day moving average is $304.62. The stock has a market capitalization of $660.55 billion, a PE ratio of 35.84, a P/E/G ratio of 2.33 and a beta of 0.97. 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 (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. Visa’s dividend payout ratio is presently 23.79%.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the transaction, the general counsel now directly owns 11,925 shares of the company’s stock, valued at $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,885 shares of company stock valued at $19,161,447. 0.13% of the stock is currently owned by company insiders.

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.