Summit Wealth & Retirement Planning Inc. Trims Holdings in Visa Inc. (NYSE:V)

Summit Wealth & Retirement Planning Inc. cut its stake in Visa Inc. (NYSE:V) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,223 shares of the credit-card processor’s stock after selling 39 shares during the quarter. Summit Wealth & Retirement Planning Inc.’s holdings in Visa were worth $318,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in V. Altshuler Shaham Ltd purchased a new position in shares of Visa in the third quarter valued at $25,000. O Brien Wealth Partners LLC bought a new stake in Visa during the fourth quarter valued at $32,000. Nalls Sherbakoff Group LLC boosted its stake in Visa by 545.5% during the third quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock valued at $33,000 after buying an additional 120 shares during the period. Valued Wealth Advisors LLC bought a new stake in Visa during the fourth quarter valued at $37,000. Finally, Macroview Investment Management LLC boosted its stake in Visa by 1,019.2% during the third 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. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 value of $729,271.20. Following the transaction, the chief accounting officer now owns 4,898 shares in the company, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. Insiders have sold a total of 18,965 shares of company stock worth $5,256,352 in the last 90 days. Company insiders own 0.19% of the company’s stock.

Visa Trading Up 0.9 %

NYSE V opened at $272.31 on Tuesday. Visa Inc. has a 1-year low of $216.14 and a 1-year high of $290.96. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average of $279.52 and a 200-day moving average of $263.62. The firm has a market cap of $500.10 billion, a PE ratio of 31.34, a price-to-earnings-growth ratio of 1.86 and a beta of 0.96.

Visa (NYSE:V) last released its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.07. Visa had a return on equity of 50.02% and a net margin of 53.92%. The company had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.55 billion. During the same quarter in the previous year, the company posted $2.18 EPS. Visa’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts forecast that Visa Inc. will post 9.88 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio is presently 23.94%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Evercore ISI lifted their price objective on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Royal Bank of Canada lifted their price objective on Visa from $290.00 to $309.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Redburn Atlantic reissued a “neutral” rating and set a $307.00 price objective on shares of Visa in a research note on Wednesday, March 27th. 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. Finally, Barclays lifted their price target on Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $298.43.

Visa Company 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.