Summit Trail Advisors LLC Purchases 1,592 Shares of Visa Inc. (NYSE:V)

Summit Trail Advisors LLC lifted its position in Visa Inc. (NYSE:V) by 8.4% during the 3rd quarter, Holdings Channel reports. The firm owned 20,627 shares of the credit-card processor’s stock after acquiring an additional 1,592 shares during the period. Summit Trail Advisors LLC’s holdings in Visa were worth $5,671,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in V. WFA Asset Management Corp lifted its stake in Visa by 4.6% in the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock worth $632,000 after acquiring an additional 100 shares during the period. Lavaca Capital LLC purchased a new stake in Visa in the first quarter worth $249,000. Caxton Associates LP lifted its stake in Visa by 431.3% in the first quarter. Caxton Associates LP now owns 53,088 shares of the credit-card processor’s stock worth $14,816,000 after acquiring an additional 43,096 shares during the period. Zurich Insurance Group Ltd FI lifted its stake in Visa by 0.3% in the first quarter. Zurich Insurance Group Ltd FI now owns 583,343 shares of the credit-card processor’s stock worth $162,799,000 after acquiring an additional 2,015 shares during the period. Finally, Silvercrest Asset Management Group LLC lifted its stake in Visa by 13.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 148,553 shares of the credit-card processor’s stock worth $41,458,000 after acquiring an additional 17,887 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 94.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Visa Price Performance

NYSE V opened at $309.92 on Friday. Visa Inc. has a one year low of $251.61 and a one year high of $312.44. The stock has a 50-day moving average of $289.52 and a 200 day moving average of $277.34. The company has a market capitalization of $577.34 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 2.08 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 EPS. On average, sell-side analysts forecast that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s payout ratio is currently 24.25%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on V shares. JPMorgan Chase & Co. raised their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Barclays raised their price objective on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada raised their price objective on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Robert W. Baird raised their price objective on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $321.74.

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.