HighPoint Advisor Group LLC Acquires 1,300 Shares of Visa Inc. (NYSE:V)

HighPoint Advisor Group LLC grew its stake in shares of Visa Inc. (NYSE:V) by 3.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 43,659 shares of the credit-card processor’s stock after purchasing an additional 1,300 shares during the quarter. Visa accounts for 0.8% of HighPoint Advisor Group LLC’s holdings, making the stock its 22nd largest position. HighPoint Advisor Group LLC’s holdings in Visa were worth $15,190,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Riverstone Advisors LLC purchased a new stake in Visa in the 4th quarter worth $217,000. Journey Strategic Wealth LLC increased its holdings in shares of Visa by 16.4% in the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after purchasing an additional 1,361 shares during the last quarter. King Wealth Management Group boosted its stake in Visa by 9.0% during the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after buying an additional 6,172 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Visa during the 4th quarter valued at approximately $10,163,000. Finally, Copley Financial Group Inc. bought a new stake in Visa in the 3rd quarter worth approximately $616,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their target price on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Barclays upped their target price on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. UBS Group boosted their price objective on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Visa in a report on Thursday, February 13th. Finally, Wells Fargo & Company increased their price target on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Five investment 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 currently has an average rating of “Moderate Buy” and an average price target of $355.84.

Visa Stock Down 2.1 %

Shares of Visa stock opened at $342.62 on Monday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $636.51 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 2.33 and a beta of 0.95. The firm’s 50-day moving average is $343.60 and its two-hundred day moving average is $315.49.

Visa (NYSE:V) last posted its 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%. As a group, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.69%. Visa’s dividend payout ratio (DPR) is presently 23.79%.

Insiders Place Their Bets

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the sale, the insider now owns 36,566 shares in the company, valued at approximately $12,789,689.82. The trade was a 47.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,205 shares of company stock worth $48,560,961. 0.13% of the stock is owned by corporate insiders.

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.