Summit X LLC Acquires 37 Shares of Visa Inc. (NYSE:V)

Summit X LLC lifted its holdings in Visa Inc. (NYSE:V) by 0.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,151 shares of the credit-card processor’s stock after purchasing an additional 37 shares during the period. Summit X LLC’s holdings in Visa were worth $2,576,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Peterson Financial Group Inc. bought a new stake in Visa during the 3rd quarter worth approximately $26,000. Decker Retirement Planning Inc. bought a new stake in Visa during the 4th quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Visa during the 4th quarter worth approximately $27,000. POM Investment Strategies LLC raised its stake in Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after acquiring an additional 32 shares during the period. Finally, Modus Advisors LLC bought a new stake in Visa during the 4th quarter worth approximately $32,000. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the business’s stock in a transaction dated 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 directly owns 36,566 shares in the company, valued at approximately $12,789,689.82. The trade was a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the transaction, the chief accounting officer now owns 4,488 shares of the company’s stock, valued at $1,569,094.56. This represents a 34.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,505 shares of company stock worth $22,290,507 over the last three months. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on V. JPMorgan Chase & Co. lifted their price objective on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Oppenheimer reiterated an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. UBS Group lifted their price objective on shares of Visa from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Barclays lifted their price objective on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Raymond James reiterated an “outperform” rating and set a $393.00 price objective (up previously from $374.00) on shares of Visa in a research report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Stock Performance

V stock opened at $331.93 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50-day moving average price of $337.01 and a 200 day moving average price of $309.89. The company has a market capitalization of $616.65 billion, a P/E ratio of 33.46, a PEG ratio of 2.33 and a beta of 0.95. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating the consensus estimate 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, equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.71%. Visa’s payout ratio is currently 23.79%.

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.