May Hill Capital LLC Purchases New Stake in Visa Inc. (NYSE:V)

May Hill Capital LLC purchased a new stake in shares of Visa Inc. (NYSE:V) in the 4th quarter, Holdings Channel reports. The fund purchased 2,488 shares of the credit-card processor’s stock, valued at approximately $786,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares during the last quarter. State Street Corp lifted its holdings in shares of Visa by 4.5% during the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after buying an additional 3,327,977 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock valued at $12,729,901,000 after acquiring an additional 1,689,926 shares during the period. Norges Bank acquired a new position in shares of Visa in the fourth quarter valued at about $5,171,271,000. Finally, Charles Schwab Investment Management Inc. increased its position in Visa by 6.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,241,003 shares of the credit-card processor’s stock worth $3,868,646,000 after acquiring an additional 718,558 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the transaction, the insider now owns 26,413 shares in the company, valued at approximately $8,642,333.60. The trade was a 59.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the sale, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at approximately $1,569,094.56. This trade represents a 34.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock worth $48,560,961 in the last quarter. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on V shares. JPMorgan Chase & Co. boosted 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. UBS Group increased their target price on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Susquehanna reiterated a “positive” rating on shares of Visa in a research note on Friday, March 21st. Finally, Morgan Stanley boosted their target price on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Five investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $355.84.

Visa Stock Performance

Shares of Visa stock opened at $350.68 on Tuesday. The business has a 50-day moving average price of $344.22 and a two-hundred day moving average price of $315.95. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a market cap of $651.48 billion, a P/E ratio of 35.35, a PEG ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS 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, analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is 23.79%.

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.