Summit Financial LLC Has $13 Million Position in Visa Inc. (NYSE:V)

Summit Financial LLC raised its stake in Visa Inc. (NYSE:V) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,139 shares of the credit-card processor’s stock after buying an additional 2,942 shares during the quarter. Summit Financial LLC’s holdings in Visa were worth $13,002,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after buying an additional 7,079,706 shares during the last quarter. State Street Corp increased its stake in shares of Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after purchasing an additional 2,772,549 shares in the last quarter. Norges Bank acquired a new stake in shares of Visa in the 4th quarter valued at $5,171,271,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Visa by 6.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,241,003 shares of the credit-card processor’s stock worth $3,868,646,000 after purchasing an additional 718,558 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of Visa stock opened at $342.62 on Monday. The firm has a market cap of $636.51 billion, a P/E ratio of 34.54, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. The firm’s 50-day simple moving average is $343.60 and its 200-day simple moving average is $315.49. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating 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 EPS for the current fiscal year.

Visa Dividend Announcement

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

Wall Street Analysts Forecast Growth

V has been the topic of several recent research reports. Barclays boosted their price target on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Friday. Oppenheimer reissued an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Wells Fargo & Company upped their price objective on shares of Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, UBS Group lifted their target price on shares of Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $355.84.

Insiders Place Their Bets

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the sale, the insider now directly owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock worth $48,560,961 over the last three months. 0.13% of the stock is currently 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.