Sycomore Asset Management Has $902,000 Stock Holdings in Visa Inc. (NYSE:V)

Sycomore Asset Management boosted its stake in Visa Inc. (NYSE:V) by 332.3% in the fourth quarter, HoldingsChannel reports. The firm owned 3,484 shares of the credit-card processor’s stock after buying an additional 2,678 shares during the period. Sycomore Asset Management’s holdings in Visa were worth $902,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC lifted its position in shares of 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 purchasing an additional 2,257,605 shares in the last quarter. Northern Trust Corp raised its position in Visa by 4.7% in the third quarter. Northern Trust Corp now owns 17,073,700 shares of the credit-card processor’s stock worth $3,927,122,000 after acquiring an additional 763,505 shares during the period. Ameriprise Financial Inc. raised its position in Visa by 2.7% in the third quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock worth $3,272,846,000 after acquiring an additional 374,489 shares during the period. Jennison Associates LLC raised its position in Visa by 0.7% in the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after acquiring an additional 85,123 shares during the period. Finally, Brown Advisory Inc. raised its position in Visa by 1.5% in the third quarter. Brown Advisory Inc. now owns 7,542,434 shares of the credit-card processor’s stock worth $1,734,835,000 after acquiring an additional 108,280 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

V stock traded up $0.55 during midday trading on Thursday, reaching $275.57. The company had a trading volume of 2,831,109 shares, compared to its average volume of 5,874,035. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96. The company has a market capitalization of $506.09 billion, a P/E ratio of 30.80, a P/E/G ratio of 1.89 and a beta of 0.96. The firm has a 50-day moving average price of $279.44 and a 200-day moving average price of $263.97.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.72%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.09 EPS. On average, research analysts anticipate that Visa Inc. will post 9.88 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio is currently 23.24%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at $1,365,954.24. 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.

Analyst Upgrades and Downgrades

Several analysts have commented on V shares. Wedbush lifted their price objective on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday. William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Wednesday. Raymond James lifted their target price on shares of Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Redburn Atlantic reiterated a “neutral” rating and issued a $307.00 target price on shares of Visa in a research note on Wednesday, March 27th. Finally, Mizuho reiterated a “neutral” rating and issued a $265.00 target price on shares of Visa in a research note on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $302.58.

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.