Convergence Financial LLC Raises Position in Visa Inc. (NYSE:V)

Convergence Financial LLC increased its holdings in Visa Inc. (NYSE:V) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,908 shares of the credit-card processor’s stock after purchasing an additional 97 shares during the quarter. Convergence Financial LLC’s holdings in Visa were worth $1,235,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after acquiring an additional 3,327,977 shares during the last quarter. FMR LLC grew its holdings in Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after acquiring an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC grew its holdings in Visa by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after acquiring an additional 2,772,549 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Visa by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock worth $3,188,862,000 after acquiring an additional 123,927 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Visa by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock worth $3,168,096,000 after acquiring an additional 670,590 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, CAO Peter M. Andreski sold 2,332 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the transaction, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at $1,569,094.56. The trade was a 34.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the sale, the insider now directly 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. Insiders sold 55,885 shares of company stock valued at $19,161,447 over the last three months. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Susquehanna raised their price target on shares of Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Barclays lifted their target price on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research note on Thursday, February 13th. The Goldman Sachs Group lifted their target price on shares of Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Mizuho lifted their target price on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Stock Up 2.1 %

Shares of Visa stock opened at $363.33 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $674.99 billion, a PE ratio of 36.63, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $364.00. The company has a 50-day simple moving average of $333.03 and a two-hundred day simple moving average of $305.34.

Visa (NYSE:V) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (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%. On average, analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed 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 is Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.65%. Visa’s payout ratio is 23.79%.

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.