Summitry LLC Has $64.58 Million Stock Position in Visa Inc. $V

Summitry LLC lifted its holdings in shares of Visa Inc. (NYSE:V) by 3.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 189,170 shares of the credit-card processor’s stock after purchasing an additional 5,800 shares during the period. Visa makes up approximately 2.7% of Summitry LLC’s investment portfolio, making the stock its 14th biggest holding. Summitry LLC’s holdings in Visa were worth $64,579,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mmbg Investment Advisors CO. boosted its stake in Visa by 3.5% during the 3rd quarter. Mmbg Investment Advisors CO. now owns 45,641 shares of the credit-card processor’s stock valued at $15,581,000 after purchasing an additional 1,546 shares during the last quarter. M&G PLC boosted its position in shares of Visa by 16.3% during the third quarter. M&G PLC now owns 731,550 shares of the credit-card processor’s stock valued at $249,459,000 after buying an additional 102,434 shares during the last quarter. Tobam grew its holdings in Visa by 40.1% during the third quarter. Tobam now owns 3,231 shares of the credit-card processor’s stock worth $1,103,000 after buying an additional 924 shares in the last quarter. Eagle Wealth Strategies LLC raised its position in Visa by 9.3% in the 3rd quarter. Eagle Wealth Strategies LLC now owns 1,699 shares of the credit-card processor’s stock valued at $580,000 after buying an additional 145 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Visa by 0.9% in the 3rd quarter. Fifth Third Bancorp now owns 421,696 shares of the credit-card processor’s stock valued at $143,959,000 after buying an additional 3,944 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the completion of the sale, the insider owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $349.18, for a total value of $3,661,152.30. Following the completion of the transaction, the chief executive officer owned 9,401 shares in the company, valued at $3,282,641.18. This represents a 52.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is owned by insiders.

Visa Trading Down 3.1%

Shares of V opened at $314.13 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $570.19 billion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 1.80 and a beta of 0.79. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The business has a 50-day moving average of $337.98 and a 200 day moving average of $339.73.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, topping the consensus estimate of $3.14 by $0.03. The company had revenue of $10.90 billion during the quarter, compared to the consensus estimate of $10.69 billion. Visa had a net margin of 50.23% and a return on equity of 61.74%. Visa’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period last year, the firm earned $2.75 EPS. As a group, research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be paid a $0.67 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $2.68 annualized dividend and a yield of 0.9%. Visa’s dividend payout ratio is currently 25.14%.

Wall Street Analysts Forecast Growth

V has been the subject of several recent analyst reports. KeyCorp reiterated an “overweight” rating and issued a $405.00 target price on shares of Visa in a research note on Wednesday, October 22nd. Morgan Stanley restated an “overweight” rating and issued a $411.00 target price (up previously from $398.00) on shares of Visa in a research note on Friday, January 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $408.00 target price (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. TD Cowen reissued a “buy” rating on shares of Visa in a research report on Friday, January 30th. Finally, Evercore set a $380.00 price target on shares of Visa in a report on Friday, December 12th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $392.21.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.