Stonebrook Private Inc. Acquires New Stake in Visa Inc. (NYSE:V)

Stonebrook Private Inc. acquired a new position in shares of Visa Inc. (NYSE:V) in the fourth quarter, HoldingsChannel reports. The firm acquired 7,967 shares of the credit-card processor’s stock, valued at approximately $2,074,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. International Assets Investment Management LLC increased its position in Visa by 17,418.7% during the 4th quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after purchasing an additional 4,710,188 shares in the last quarter. FMR LLC grew its holdings in Visa by 4.7% in the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after buying an additional 2,257,605 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Visa in the 3rd quarter valued at about $358,349,000. The Manufacturers Life Insurance Company grew its holdings in Visa by 34.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,929,979 shares of the credit-card processor’s stock valued at $903,955,000 after buying an additional 999,167 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Visa by 28.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,983,190 shares of the credit-card processor’s stock valued at $916,174,000 after buying an additional 871,439 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,874 shares of company stock worth $5,506,827. 0.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Evercore ISI lifted their price target on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Macquarie lifted their price target on Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday. William Blair restated an “outperform” rating on shares of Visa in a report on Wednesday. UBS Group lifted their price objective on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, 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. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $302.58.

Visa Stock Down 0.2 %

Visa stock traded down $0.64 during midday trading on Friday, hitting $274.52. 6,840,615 shares of the company were exchanged, compared to its average volume of 6,528,673. The company’s fifty day moving average price is $279.24 and its 200-day moving average price is $264.52. The company has a market cap of $504.16 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.45. Visa Inc. has a fifty-two week low of $216.14 and a fifty-two week high of $290.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. During the same period in the prior year, the company posted $2.09 EPS. Visa’s quarterly revenue was up 9.9% on a year-over-year basis. On average, research analysts predict that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be issued a $0.52 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is 23.24%.

About Visa

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.