Visa Inc. (NYSE:V) is Wallington Asset Management LLC’s 7th Largest Position

Wallington Asset Management LLC lifted its stake in shares of Visa Inc. (NYSE:V) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,012 shares of the credit-card processor’s stock after purchasing an additional 1,309 shares during the quarter. Visa comprises approximately 3.4% of Wallington Asset Management LLC’s portfolio, making the stock its 7th biggest position. Wallington Asset Management LLC’s holdings in Visa were worth $21,772,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Jackson Wealth Management LLC grew its holdings in Visa by 2.5% during the third quarter. Jackson Wealth Management LLC now owns 12,637 shares of the credit-card processor’s stock worth $2,907,000 after acquiring an additional 312 shares during the period. JT Stratford LLC grew its holdings in Visa by 13.7% during the third quarter. JT Stratford LLC now owns 8,472 shares of the credit-card processor’s stock worth $1,949,000 after acquiring an additional 1,020 shares during the period. Seven Eight Capital LP grew its holdings in Visa by 46.7% during the third quarter. Seven Eight Capital LP now owns 13,222 shares of the credit-card processor’s stock worth $3,041,000 after acquiring an additional 4,210 shares during the period. Scotia Capital Inc. grew its holdings in Visa by 0.6% during the third quarter. Scotia Capital Inc. now owns 1,341,142 shares of the credit-card processor’s stock worth $308,492,000 after acquiring an additional 8,181 shares during the period. Finally, Sandler Capital Management grew its holdings in Visa by 24.4% during the third quarter. Sandler Capital Management now owns 26,298 shares of the credit-card processor’s stock worth $6,049,000 after acquiring an additional 5,160 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on V shares. Royal Bank of Canada upped their target price on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Oppenheimer upped their target price on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. UBS Group upped their target price on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Evercore ISI lowered their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Finally, William Blair reissued an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $303.56.

Visa Stock Performance

NYSE V opened at $268.99 on Friday. The business’s 50-day moving average price is $273.45 and its 200 day moving average price is $273.65. Visa Inc. has a twelve month low of $227.68 and a twelve month high of $290.96. The company has a market capitalization of $491.97 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 1.84 and a beta of 0.95. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last released its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. During the same period in the prior year, the business posted $2.09 earnings per share. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, research analysts predict that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Dividend Announcement

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

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares in the company, valued at $713,950.05. The disclosure for this sale can be found here. 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.