IMG Wealth Management Inc. Takes $149,000 Position in Visa Inc. (NYSE:V)

IMG Wealth Management Inc. acquired a new stake in shares of Visa Inc. (NYSE:V) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 471 shares of the credit-card processor’s stock, valued at approximately $149,000.

Other institutional investors also recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after acquiring an additional 3,327,977 shares in the last quarter. FMR LLC lifted its holdings in shares of Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after acquiring an additional 3,265,518 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after acquiring an additional 2,772,549 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Visa by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,241,003 shares of the credit-card processor’s stock valued at $3,868,646,000 after acquiring an additional 718,558 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Visa by 1.1% during 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 valued at $3,188,862,000 after acquiring an additional 123,927 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Up 1.0 %

Visa stock opened at $331.72 on Monday. The firm has a 50 day simple moving average of $337.96 and a 200-day simple moving average of $311.19. 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 stock has a market capitalization of $616.26 billion, a PE ratio of 33.44, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54.

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

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date was Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Raymond James reaffirmed an “outperform” rating and set a $393.00 price target (up previously from $374.00) on shares of Visa in a research note on Friday, January 31st. Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Barclays lifted their price target on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. lifted their price target on shares of Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Morgan Stanley lifted their price target on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $353.96.

Insider Buying and Selling

In related news, 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 value of $11,801,589.57. Following the completion of the sale, the insider now owns 36,566 shares in the company, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s 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 sold 103,855 shares of company stock worth $35,165,827. Corporate insiders own 0.13% of the company’s stock.

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.