DiNuzzo Private Wealth Inc. Takes $72,000 Position in Visa Inc. (NYSE:V)

DiNuzzo Private Wealth Inc. bought a new position in shares of Visa Inc. (NYSE:V) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 276 shares of the credit-card processor’s stock, valued at approximately $72,000.

Several other hedge funds have also recently bought and sold shares of V. FMR LLC increased its stake in shares of Visa by 4.7% during the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock worth $11,582,785,000 after purchasing an additional 2,257,605 shares during the last quarter. Northern Trust Corp raised its stake in Visa by 4.7% in the third quarter. Northern Trust Corp now owns 17,073,700 shares of the credit-card processor’s stock valued at $3,927,122,000 after buying an additional 763,505 shares during the period. Ameriprise Financial Inc. raised its stake in Visa by 2.7% in the third quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock valued at $3,272,846,000 after buying an additional 374,489 shares during the period. Jennison Associates LLC lifted its position in shares of Visa by 0.7% in the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after buying an additional 85,123 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in shares of Visa by 1.5% during the 3rd quarter. Brown Advisory Inc. now owns 7,542,434 shares of the credit-card processor’s stock worth $1,734,835,000 after acquiring an additional 108,280 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

V has been the subject of several research reports. Oppenheimer lifted their price target on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Keefe, Bruyette & Woods upped their price target on shares of Visa from $305.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Mizuho reiterated a “neutral” rating and issued a $265.00 price objective on shares of Visa in a research note on Wednesday, March 27th. Royal Bank of Canada increased their target price on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Evercore ISI lifted their price target on shares of Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $302.58.

Visa Stock Performance

Shares of NYSE V traded up $1.48 during midday trading on Wednesday, reaching $270.09. The company’s stock had a trading volume of 2,938,993 shares, compared to its average volume of 5,898,324. The firm has a 50 day moving average price of $278.98 and a 200-day moving average price of $265.19. The stock has a market capitalization of $496.02 billion, a P/E ratio of 30.11, a PEG ratio of 1.87 and a beta of 0.96. Visa Inc. has a 12-month low of $216.14 and a 12-month high of $290.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40.

Visa (NYSE:V) last posted 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 company had revenue of $8.78 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.09 earnings per share. As a group, equities analysts predict that Visa Inc. will post 9.9 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Thursday, May 16th. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Insider Activity at Visa

In related news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,874 shares of company stock worth $5,506,827. Company insiders own 0.19% 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.