Summitry LLC Acquires 5,232 Shares of Visa Inc. (NYSE:V)

Summitry LLC grew its holdings in Visa Inc. (NYSE:V) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 319,613 shares of the credit-card processor’s stock after acquiring an additional 5,232 shares during the period. Visa comprises 4.9% of Summitry LLC’s holdings, making the stock its 5th biggest position. Summitry LLC’s holdings in Visa were worth $101,011,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in V. Hirtle Callaghan & Co LLC raised its stake in Visa by 1.3% during the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock worth $724,000 after acquiring an additional 29 shares in the last quarter. Elevation Wealth Partners LLC grew its holdings in shares of Visa by 3.3% during the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock valued at $297,000 after purchasing an additional 30 shares during the last quarter. Warther Private Wealth LLC increased its position in Visa by 1.0% during the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock worth $928,000 after purchasing an additional 30 shares in the last quarter. Valmark Advisers Inc. lifted its stake in Visa by 0.4% in the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after purchasing an additional 30 shares during the last quarter. Finally, Strategic Family Wealth Counselors L.L.C. boosted its position in Visa by 0.4% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor’s stock valued at $2,302,000 after buying an additional 30 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $194,931. The trade was a 94.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the sale, the general counsel now directly owns 11,925 shares of the company’s stock, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,205 shares of company stock worth $48,560,961. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on V. Raymond James reiterated an “outperform” rating and issued a $393.00 price target (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Morgan Stanley upped their target price on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Oppenheimer restated an “outperform” rating on shares of Visa in a report on Thursday, February 13th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Piper Sandler reissued an “overweight” rating and set a $383.00 target price (up from $368.00) on shares of Visa in a report on Friday, January 31st. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $353.96.

Visa Trading Up 0.3 %

V opened at $344.95 on Wednesday. The company has a fifty day moving average price of $341.94 and a two-hundred day moving average price of $314.21. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54. The company has a market cap of $640.84 billion, a P/E ratio of 34.77, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. 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 posted its quarterly 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 return on equity of 54.79% and a net margin of 54.27%. Analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s payout ratio is currently 23.79%.

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.