NorthCrest Asset Manangement LLC Purchases 59,791 Shares of Visa Inc. $V

NorthCrest Asset Manangement LLC lifted its position in shares of Visa Inc. (NYSE:V) by 130.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,732 shares of the credit-card processor’s stock after buying an additional 59,791 shares during the period. Visa comprises about 0.8% of NorthCrest Asset Manangement LLC’s investment portfolio, making the stock its 23rd largest holding. NorthCrest Asset Manangement LLC’s holdings in Visa were worth $37,408,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Insight Wealth Strategies LLC lifted its stake in Visa by 1.6% in the 3rd quarter. Insight Wealth Strategies LLC now owns 1,875 shares of the credit-card processor’s stock valued at $640,000 after acquiring an additional 29 shares in the last quarter. Old Port Advisors grew its stake in shares of Visa by 0.9% during the 3rd quarter. Old Port Advisors now owns 3,423 shares of the credit-card processor’s stock worth $1,169,000 after acquiring an additional 29 shares in the last quarter. Carr Financial Group Corp grew its stake in shares of Visa by 2.4% during the 3rd quarter. Carr Financial Group Corp now owns 1,290 shares of the credit-card processor’s stock worth $440,000 after acquiring an additional 30 shares in the last quarter. Define Financial LLC raised its holdings in shares of Visa by 4.0% in the third quarter. Define Financial LLC now owns 779 shares of the credit-card processor’s stock valued at $266,000 after purchasing an additional 30 shares during the last quarter. Finally, Patron Partners LLC raised its holdings in shares of Visa by 0.6% in the third quarter. Patron Partners LLC now owns 4,648 shares of the credit-card processor’s stock valued at $1,587,000 after purchasing an additional 30 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Transactions at Visa

In related news, Director Lloyd Carney sold 650 shares of Visa stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total transaction of $201,253.00. Following the completion of the transaction, the director owned 2,679 shares in the company, valued at approximately $829,471.98. This trade represents a 19.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 9,401 shares in the company, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their position. The SEC filing for this sale provides additional information. 0.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on V shares. Evercore set a $380.00 target price on shares of Visa in a report on Friday, December 12th. Macquarie Infrastructure reissued an “outperform” rating and set a $410.00 price target on shares of Visa in a research report on Friday, January 30th. TD Cowen reissued a “buy” rating on shares of Visa in a research report on Friday, January 30th. Daiwa Securities Group upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 price objective for the company in a research note on Monday, February 2nd. Finally, Cantor Fitzgerald upgraded Visa to a “strong-buy” rating in a report on Tuesday, January 27th. Seven analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Visa presently has an average rating of “Buy” and a consensus price target of $392.65.

Visa Trading Up 1.1%

NYSE V opened at $304.83 on Tuesday. Visa Inc. has a 12 month low of $297.03 and a 12 month high of $375.51. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average of $319.73 and a 200-day moving average of $333.93. The company has a market cap of $553.31 billion, a PE ratio of 28.60, a PEG ratio of 1.73 and a beta of 0.78.

Visa (NYSE:V) last issued its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The business had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the company earned $2.75 earnings per share. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

About Visa

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.