Suncoast Equity Management Has $47.35 Million Stock Holdings in Visa Inc. (NYSE:V)

Suncoast Equity Management lessened its position in Visa Inc. (NYSE:V) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,822 shares of the credit-card processor’s stock after selling 2,543 shares during the period. Visa accounts for about 5.3% of Suncoast Equity Management’s portfolio, making the stock its 5th biggest holding. Suncoast Equity Management’s holdings in Visa were worth $47,350,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Peterson Financial Group Inc. acquired a new position in Visa in the 3rd quarter worth about $26,000. Decker Retirement Planning Inc. acquired a new position in Visa in the 4th quarter worth about $26,000. Reston Wealth Management LLC acquired a new position in Visa in the 3rd quarter worth about $31,000. POM Investment Strategies LLC increased its holdings in Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares in the last quarter. Finally, Modus Advisors LLC acquired a new stake in shares of Visa in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 0.6 %

Shares of NYSE:V opened at $348.27 on Friday. The business’s 50 day simple moving average is $329.14 and its two-hundred day simple moving average is $302.34. The firm has a market cap of $647.01 billion, a P/E ratio of 35.11, a PEG ratio of 2.33 and a beta of 0.97. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $357.15.

Visa (NYSE:V) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa’s dividend payout ratio is presently 23.79%.

Wall Street Analyst Weigh In

V has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Macquarie increased their price target on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Robert W. Baird increased their price target on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. BMO Capital Markets increased their price target on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Susquehanna increased their price target on Visa from $395.00 to $410.00 and gave the company a “positive” rating in a research note on Friday. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus price target of $353.96.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares in the company, valued at $12,789,689.82. This represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,885 shares of company stock worth $19,161,447 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

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.