Visa Inc. (NYSE:V) Shares Purchased by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC grew its holdings in shares of Visa Inc. (NYSE:V) by 26.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,236 shares of the credit-card processor’s stock after purchasing an additional 11,396 shares during the quarter. Visa makes up about 1.6% of Sawgrass Asset Management LLC’s portfolio, making the stock its 17th biggest holding. Sawgrass Asset Management LLC’s holdings in Visa were worth $14,120,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Altshuler Shaham Ltd purchased a new position in shares of Visa during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC acquired a new position in Visa in the 4th quarter valued at about $32,000. Valued Wealth Advisors LLC purchased a new stake in shares of Visa in the 4th quarter valued at approximately $37,000. Stuart Chaussee & Associates Inc. increased its holdings in shares of Visa by 66.2% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 236 shares of the credit-card processor’s stock worth $61,000 after buying an additional 94 shares during the last quarter. Finally, Macroview Investment Management LLC raised its position in shares of Visa by 1,019.2% during the 3rd quarter. Macroview Investment Management LLC now owns 291 shares of the credit-card processor’s stock valued at $67,000 after buying an additional 265 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were 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 approximately $150,833.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lloyd Carney sold 909 shares of the firm’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 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 disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on V. Wells Fargo & Company lifted their price target on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Robert W. Baird lifted their price objective on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Oppenheimer increased their target price on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Raymond James increased their price target on shares of Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Finally, Susquehanna lifted their price objective on shares of Visa from $300.00 to $326.00 and gave the company a “positive” rating in a report on Friday, January 26th. Five research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $303.00.

Visa Price Performance

Shares of NYSE V traded up $0.73 during midday trading on Wednesday, hitting $277.19. The company had a trading volume of 8,996,277 shares, compared to its average volume of 5,922,313. 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 business has a 50-day simple moving average of $277.81 and a two-hundred day simple moving average of $266.37. Visa Inc. has a twelve month low of $216.14 and a twelve month high of $290.96. The firm has a market capitalization of $506.96 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 1.84 and a beta of 0.95.

Visa (NYSE:V) last released its quarterly earnings data 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 business had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same period in the prior year, the firm posted $2.09 EPS. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date is Thursday, May 16th. Visa’s dividend payout ratio (DPR) is 23.24%.

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.