Cannell & Co. Has $5.45 Million Stake in Visa Inc. (NYSE:V)

Cannell & Co. increased its stake in shares of Visa Inc. (NYSE:V) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,935 shares of the credit-card processor’s stock after purchasing an additional 407 shares during the quarter. Cannell & Co.’s holdings in Visa were worth $5,450,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Oakwell Private Wealth Management LLC grew its stake in Visa by 14.7% in the fourth quarter. Oakwell Private Wealth Management LLC now owns 2,749 shares of the credit-card processor’s stock valued at $716,000 after purchasing an additional 352 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Visa by 14.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 3,597 shares of the credit-card processor’s stock valued at $936,000 after buying an additional 451 shares in the last quarter. Parthenon LLC acquired a new position in Visa in the fourth quarter worth approximately $221,000. Hartford Funds Management Co LLC raised its position in Visa by 40.0% during the fourth quarter. Hartford Funds Management Co LLC now owns 3,207 shares of the credit-card processor’s stock valued at $835,000 after acquiring an additional 916 shares in the last quarter. Finally, St. Louis Trust Co raised its position in Visa by 5.2% during the fourth quarter. St. Louis Trust Co now owns 3,851 shares of the credit-card processor’s stock valued at $1,003,000 after acquiring an additional 191 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Visa news, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the sale, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the transaction, the chief accounting officer now owns 4,898 shares in the company, valued at $1,365,954.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,724 shares of company stock worth $3,278,698. Corporate insiders own 0.19% of the company’s stock.

Visa Trading Down 0.5 %

Shares of V opened at $267.32 on Thursday. The stock’s 50-day moving average price is $278.79 and its 200 day moving average price is $265.21. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $490.94 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 1.84 and a beta of 0.95. Visa Inc. has a 12-month low of $216.14 and a 12-month high of $290.96.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The business had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. Visa’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.09 earnings per share. As a group, research analysts predict that Visa Inc. will post 9.93 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Thursday, May 16th. Visa’s payout ratio is 23.24%.

Analyst Upgrades and Downgrades

V has been the topic of several analyst reports. Barclays increased their price target on shares of Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Evercore ISI raised their target price on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Raymond James upped their price target on Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Wedbush raised their price objective on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Wells Fargo & Company boosted their target price on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $303.00.

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.