Connecticut Wealth Management LLC Buys 5,635 Shares of Visa Inc. (NYSE:V)

Connecticut Wealth Management LLC raised its stake in Visa Inc. (NYSE:V) by 53.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,094 shares of the credit-card processor’s stock after purchasing an additional 5,635 shares during the period. Connecticut Wealth Management LLC’s holdings in Visa were worth $4,190,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GoalVest Advisory LLC increased its position in shares of Visa by 3.4% during the fourth quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock worth $317,000 after acquiring an additional 40 shares in the last quarter. Destiny Wealth Partners LLC increased its position in shares of Visa by 2.5% during the fourth quarter. Destiny Wealth Partners LLC now owns 1,668 shares of the credit-card processor’s stock worth $433,000 after acquiring an additional 40 shares in the last quarter. Sunflower Bank N.A. increased its position in shares of Visa by 1.3% during the fourth quarter. Sunflower Bank N.A. now owns 3,143 shares of the credit-card processor’s stock worth $818,000 after acquiring an additional 41 shares in the last quarter. Parker Financial LLC grew its position in Visa by 4.8% in the 4th quarter. Parker Financial LLC now owns 925 shares of the credit-card processor’s stock worth $241,000 after purchasing an additional 42 shares in the last quarter. Finally, Patron Partners LLC grew its position in Visa by 1.0% in the 4th quarter. Patron Partners LLC now owns 4,295 shares of the credit-card processor’s stock worth $1,118,000 after purchasing an additional 42 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on V shares. Keefe, Bruyette & Woods upped their price objective on shares of Visa from $305.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Redburn Atlantic reiterated a “neutral” rating and issued a $307.00 target price on shares of Visa in a research note on Wednesday, March 27th. Macquarie boosted their target price on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Mizuho boosted their target price on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Susquehanna boosted their target price on shares of Visa from $300.00 to $326.00 and gave the company a “positive” rating in a research note on Friday, January 26th. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $303.00.

Visa Trading Up 0.3 %

V traded up $0.88 during trading on Friday, hitting $268.49. 3,862,018 shares of the stock traded hands, compared to its average volume of 6,930,902. The firm has a market capitalization of $493.08 billion, a P/E ratio of 30.00, a price-to-earnings-growth ratio of 1.83 and a beta of 0.95. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a 50-day moving average of $278.17 and a 200 day moving average of $265.42. Visa Inc. has a 12-month low of $216.14 and a 12-month high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.08. The business had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.09 EPS. Equities research analysts anticipate that Visa Inc. will post 9.94 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be given a $0.52 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.77%. Visa’s dividend payout ratio is 23.24%.

Insider Transactions at Visa

In other news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the transaction, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,724 shares of company stock valued at $3,278,698. Company insiders own 0.19% of the company’s stock.

Visa 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.