Agate Pass Investment Management LLC Acquires 486 Shares of Visa Inc. (NYSE:V)

Agate Pass Investment Management LLC raised its stake in Visa Inc. (NYSE:V) by 10.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,184 shares of the credit-card processor’s stock after acquiring an additional 486 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Visa were worth $1,638,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Unionview LLC grew its holdings in shares of Visa by 1.5% during the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after purchasing an additional 33 shares during the last quarter. FWG Holdings LLC raised its stake in shares of Visa by 1.1% during the third quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock valued at $900,000 after acquiring an additional 34 shares during the last quarter. St. Louis Trust Co raised its stake in shares of Visa by 0.9% during the third quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock valued at $1,068,000 after acquiring an additional 34 shares during the last quarter. Menard Financial Group LLC grew its stake in shares of Visa by 0.6% in the third quarter. Menard Financial Group LLC now owns 6,217 shares of the credit-card processor’s stock worth $1,709,000 after purchasing an additional 35 shares during the last quarter. Finally, KMG Fiduciary Partners LLC increased its holdings in Visa by 0.3% in the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after purchasing an additional 37 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Visa Stock Down 0.9 %

Shares of NYSE:V traded down $2.62 during mid-day trading on Monday, hitting $305.09. 2,125,597 shares of the company traded hands, compared to its average volume of 5,004,900. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $321.61. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a market cap of $568.34 billion, a P/E ratio of 31.36, a P/E/G ratio of 2.11 and a beta of 0.96. The stock has a 50-day moving average price of $312.14 and a two-hundred day moving average price of $287.04.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.33 EPS. On average, equities research analysts forecast that Visa Inc. will post 11.23 earnings per share for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Analyst Ratings Changes

Several research analysts have commented on V shares. TD Cowen lifted their target price on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Wells Fargo & Company raised their price target on shares of Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Macquarie upped their price objective on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their target price on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $330.85.

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.