Fortis Group Advisors LLC Acquires 471 Shares of Visa Inc. (NYSE:V)

Fortis Group Advisors LLC boosted its holdings in Visa Inc. (NYSE:V) by 1.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,138 shares of the credit-card processor’s stock after purchasing an additional 471 shares during the quarter. Visa accounts for about 1.6% of Fortis Group Advisors LLC’s portfolio, making the stock its 11th largest holding. Fortis Group Advisors LLC’s holdings in Visa were worth $6,545,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new stake in Visa during the third quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in Visa in the fourth quarter valued at approximately $32,000. Frank Rimerman Advisors LLC bought a new position in Visa in the fourth quarter valued at approximately $33,000. Valued Wealth Advisors LLC acquired a new position in Visa during the fourth quarter valued at approximately $37,000. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in Visa during the fourth quarter worth $40,000. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on V. Evercore ISI increased their price objective on shares of Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Mizuho raised their price objective on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Macquarie upped their target price on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Citigroup lifted their price target on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, William Blair restated an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $303.76.

Visa Stock Performance

NYSE V traded down $0.53 during trading hours on Friday, reaching $270.66. 8,537,260 shares of the company were exchanged, compared to its average volume of 5,425,052. The stock has a market capitalization of $495.02 billion, a P/E ratio of 30.24, a P/E/G ratio of 1.86 and a beta of 0.97. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 1 year low of $221.37 and a 1 year high of $290.96. The business’s 50 day simple moving average is $274.17 and its 200-day simple moving average is $272.35.

Visa (NYSE:V) last released its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (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 business had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same period last year, the business posted $2.09 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities research analysts expect that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

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

Insider Activity

In other news, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Visa news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were 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 of the company’s stock, valued at approximately $713,950.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the sale, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,402 shares of company stock worth $9,559,382. 0.19% of the stock is owned by company insiders.

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.