Promus Capital LLC Invests $1.01 Million in Visa Inc. (NYSE:V)

Promus Capital LLC acquired a new position in Visa Inc. (NYSE:V) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 3,199 shares of the credit-card processor’s stock, valued at approximately $1,011,000. Visa accounts for approximately 1.0% of Promus Capital LLC’s investment portfolio, making the stock its 19th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vision Financial Markets LLC purchased a new stake in shares of Visa in the fourth quarter worth $395,000. Arizona State Retirement System grew its stake in Visa by 7.6% during the fourth quarter. Arizona State Retirement System now owns 485,687 shares of the credit-card processor’s stock valued at $153,497,000 after acquiring an additional 34,340 shares in the last quarter. Aigen Investment Management LP grew its stake in Visa by 20.5% during the fourth quarter. Aigen Investment Management LP now owns 5,694 shares of the credit-card processor’s stock valued at $1,800,000 after acquiring an additional 970 shares in the last quarter. Proficio Capital Partners LLC grew its stake in Visa by 13.8% during the fourth quarter. Proficio Capital Partners LLC now owns 26,260 shares of the credit-card processor’s stock valued at $8,299,000 after acquiring an additional 3,191 shares in the last quarter. Finally, SPC Financial Inc. grew its stake in Visa by 1.5% during the fourth quarter. SPC Financial Inc. now owns 5,938 shares of the credit-card processor’s stock valued at $1,877,000 after acquiring an additional 87 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Visa stock opened at $352.18 on Thursday. The firm has a 50-day moving average price of $335.17 and a 200-day moving average price of $307.55. The firm has a market capitalization of $654.27 billion, a PE ratio of 35.50, 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 Inc. has a 12-month low of $252.70 and a 12-month high of $366.54.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping the consensus estimate 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 forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio is presently 23.79%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Bank of America raised their target price on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Barclays raised their target price on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, UBS Group raised their target price on shares of Visa from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $353.96.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,572 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the transaction, the general counsel now owns 11,925 shares of the company’s stock, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the transaction, the chief executive officer now directly owns 537 shares in the company, valued at $194,931. This trade represents a 94.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,505 shares of company stock valued at $22,290,507 in the last 90 days. Company 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.