Visa Inc. (NYSE:V) Stake Boosted by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. raised its holdings in shares of Visa Inc. (NYSE:V) by 1.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 28,395 shares of the credit-card processor’s stock after acquiring an additional 276 shares during the quarter. Visa comprises approximately 2.5% of Lorne Steinberg Wealth Management Inc.’s holdings, making the stock its 9th biggest position. Lorne Steinberg Wealth Management Inc.’s holdings in Visa were worth $7,393,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC increased its position in shares of Visa by 17,418.7% in the fourth quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after purchasing an additional 4,710,188 shares during the last quarter. FMR LLC grew its position in Visa by 4.7% during the third quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after acquiring an additional 2,257,605 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in Visa during the third quarter valued at approximately $358,349,000. The Manufacturers Life Insurance Company grew its position in Visa by 34.1% during the third quarter. The Manufacturers Life Insurance Company now owns 3,929,979 shares of the credit-card processor’s stock valued at $903,955,000 after acquiring an additional 999,167 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Visa by 28.0% during the third quarter. Envestnet Asset Management Inc. now owns 3,983,190 shares of the credit-card processor’s stock valued at $916,174,000 after acquiring an additional 871,439 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now directly owns 4,898 shares in the company, valued at approximately $1,365,954.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the transaction, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The disclosure for this sale can be found here. Insiders sold 18,965 shares of company stock worth $5,256,352 in the last three months. 0.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on V. William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday. Wedbush increased their price objective on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday. Robert W. Baird raised their price target on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods increased their price objective on Visa from $305.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Finally, Susquehanna increased their price objective on Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a report on Friday, January 26th. Five analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $302.43.

Visa Trading Up 0.9 %

Shares of NYSE V traded up $2.45 during trading hours on Wednesday, hitting $276.56. 3,803,638 shares of the company traded hands, compared to its average volume of 5,848,722. The stock has a market capitalization of $507.91 billion, a price-to-earnings ratio of 31.86, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54. The company’s 50 day moving average price is $279.49 and its 200 day moving average price is $263.90. Visa Inc. has a 12 month low of $216.14 and a 12 month high of $290.96.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 50.02% and a net margin of 53.92%. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter in the previous year, the business earned $2.09 EPS. Visa’s revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts anticipate that Visa Inc. will post 9.88 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Thursday, February 8th. Visa’s dividend payout ratio is 23.94%.

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.