Total Investment Management Inc. Purchases New Stake in Visa Inc. (NYSE:V)

Total Investment Management Inc. purchased a new stake in Visa Inc. (NYSE:V) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 801 shares of the credit-card processor’s stock, valued at approximately $208,000.

Several other hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in Visa by 4.7% in the third quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after acquiring an additional 2,257,605 shares during the last quarter. Northern Trust Corp lifted its stake in Visa by 4.7% in the third quarter. Northern Trust Corp now owns 17,073,700 shares of the credit-card processor’s stock valued at $3,927,122,000 after buying an additional 763,505 shares during the period. Ameriprise Financial Inc. lifted its stake in Visa by 2.7% in the third quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock valued at $3,272,846,000 after buying an additional 374,489 shares during the period. Jennison Associates LLC lifted its stake in Visa by 0.7% in the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after buying an additional 85,123 shares during the period. Finally, Brown Advisory Inc. lifted its stake in Visa by 1.5% in the third quarter. Brown Advisory Inc. now owns 7,542,434 shares of the credit-card processor’s stock valued at $1,734,835,000 after buying an additional 108,280 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

NYSE V traded down $0.64 on Friday, hitting $274.52. 6,840,615 shares of the stock traded hands, compared to its average volume of 6,528,673. The business’s fifty day moving average is $279.24 and its two-hundred day moving average is $264.33. Visa Inc. has a 12 month low of $216.14 and a 12 month high of $290.96. The firm has a market capitalization of $504.16 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 1.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.45 and a current ratio of 1.40.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $8.62 billion. During the same period last year, the company earned $2.09 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, equities analysts anticipate that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, May 16th. Visa’s payout ratio is currently 23.24%.

Insider Transactions at Visa

In other news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction on 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 directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares in the company, valued at $150,833.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lloyd Carney sold 909 shares of the stock in a transaction on 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 sale, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The disclosure for this sale can be found here. Insiders sold 19,874 shares of company stock valued at $5,506,827 over the last three months. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on V. Evercore ISI increased their target price on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Macquarie increased their price objective on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday. TD Cowen started coverage on Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective for the company. KeyCorp increased their price objective on Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, January 8th. Finally, Wedbush raised their price target on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $302.58.

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.