Summit Financial LLC Increases Stock Holdings in Visa Inc. (NYSE:V)

Summit Financial LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,527 shares of the credit-card processor’s stock after buying an additional 1,269 shares during the quarter. Summit Financial LLC’s holdings in Visa were worth $5,344,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new stake in Visa during the third quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in Visa during the 4th quarter worth $32,000. Valued Wealth Advisors LLC acquired a new stake in Visa in the 4th quarter valued at $37,000. Stuart Chaussee & Associates Inc. raised its position in Visa by 66.2% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 236 shares of the credit-card processor’s stock valued at $61,000 after purchasing an additional 94 shares during the period. Finally, Macroview Investment Management LLC lifted its stake in shares of Visa by 1,019.2% during the third quarter. Macroview Investment Management LLC now owns 291 shares of the credit-card processor’s stock worth $67,000 after purchasing an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Visa news, Director Lloyd Carney sold 909 shares of the company’s 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 sale, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,874 shares of company stock worth $5,506,827. 0.19% of the stock is owned by company insiders.

Visa Stock Performance

Shares of V traded down $1.29 during mid-day trading on Wednesday, reaching $267.32. 6,037,363 shares of the company’s stock traded hands, compared to its average volume of 5,938,064. Visa Inc. has a 12 month low of $216.14 and a 12 month high of $290.96. The stock has a market capitalization of $490.94 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 1.87 and a beta of 0.96. The business’s 50-day moving average price is $278.98 and its 200-day moving average price is $265.19. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The company had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $2.09 earnings per share. Equities analysts predict that Visa Inc. will post 9.9 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders 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 dividend on an annualized basis and a yield of 0.78%. Visa’s dividend payout ratio (DPR) is 23.24%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on V shares. Keefe, Bruyette & Woods raised their target price on Visa from $305.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, January 26th. William Blair reissued an “outperform” rating on shares of Visa in a research report on Wednesday, April 24th. Redburn Atlantic reaffirmed a “neutral” rating and set a $307.00 price target on shares of Visa in a report on Wednesday, March 27th. Evercore ISI boosted their price objective on shares of Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Finally, Citigroup raised their target price on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $302.58.

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.