Sone Capital Management LLC Takes Position in Visa Inc. (NYSE:V)

Sone Capital Management LLC bought a new position in Visa Inc. (NYSE:V) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 16,798 shares of the credit-card processor’s stock, valued at approximately $5,309,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in V. Riverstone Advisors LLC purchased a new stake in shares of Visa in the fourth quarter valued at $217,000. Blue Rock Wealth Management LLC purchased a new stake in Visa in the 4th quarter worth about $306,000. Aptus Capital Advisors LLC boosted its position in Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock worth $57,727,000 after acquiring an additional 30,185 shares during the period. Journey Strategic Wealth LLC grew its stake in Visa by 16.4% during the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock valued at $3,058,000 after acquiring an additional 1,361 shares in the last quarter. Finally, King Wealth Management Group increased its holdings in shares of Visa by 9.0% in the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after purchasing an additional 6,172 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 0.8%

Visa stock opened at $365.23 on Monday. Visa Inc. has a 52 week low of $252.70 and a 52 week 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. The firm has a market capitalization of $673.90 billion, a PE ratio of 36.82, a PEG ratio of 2.33 and a beta of 0.96. The business’s 50-day simple moving average is $338.59 and its 200-day simple moving average is $329.89.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the previous year, the business posted $2.51 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is presently 23.72%.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 39,350 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at $8,642,333.60. This trade represents a 59.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’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 sale, the chief executive officer now directly owns 537 shares in the company, valued at $194,931. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,948 shares of company stock worth $41,548,282 in the last ninety days. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of several research reports. Evercore ISI assumed coverage on shares of Visa in a report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price target for the company. Raymond James reiterated an “outperform” rating and issued a $393.00 target price (up previously from $374.00) on shares of Visa in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. BMO Capital Markets increased their price objective on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Finally, Barclays lifted their price objective on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.38.

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.