10Elms LLP Invests $73,000 in Visa Inc. (NYSE:V)

10Elms LLP acquired a new stake in shares of Visa Inc. (NYSE:V) in the fourth quarter, HoldingsChannel reports. The fund acquired 230 shares of the credit-card processor’s stock, valued at approximately $73,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of V. Norges Bank bought a new position in shares of Visa during the 4th quarter valued at $5,171,271,000. Vanguard Group Inc. raised its holdings in Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after buying an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. bought a new position in Visa during the fourth quarter valued at about $1,955,403,000. Proficio Capital Partners LLC lifted its position in shares of Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after buying an additional 3,926,049 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Visa by 18.0% during the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after acquiring an additional 2,785,707 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel now owns 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 on 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 completion of the transaction, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $194,931. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,948 shares of company stock worth $41,548,282. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Evercore ISI started coverage on Visa in a report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Bank of America upped their price objective on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, UBS Group dropped their target price on shares of Visa from $400.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $362.38.

Visa Price Performance

Shares of V stock opened at $366.96 on Wednesday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $369.15. The company has a market capitalization of $677.10 billion, a P/E ratio of 36.99, a P/E/G ratio of 2.33 and a beta of 0.96. The stock has a 50 day moving average of $340.06 and a two-hundred day moving average of $330.68. 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 (NYSE:V) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the company posted $2.51 earnings per share. Visa’s revenue was up 9.3% on a year-over-year basis. As a group, equities analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Visa Company 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.