Sweeney & Michel LLC Takes $478,000 Position in Visa Inc. (NYSE:V)

Sweeney & Michel LLC acquired a new stake in Visa Inc. (NYSE:V) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,722 shares of the credit-card processor’s stock, valued at approximately $478,000.

Several other large investors also recently made changes to their positions in the stock. Nadler Financial Group Inc. raised its stake in Visa by 2.4% in the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after acquiring an additional 44 shares during the period. Towerpoint Wealth LLC bought a new stake in Visa in the 4th quarter valued at $216,000. Andrew Hill Investment Advisors Inc. bought a new stake in Visa in the 4th quarter valued at $3,427,000. Knights of Columbus Asset Advisors LLC raised its stake in Visa by 1.1% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 75,421 shares of the credit-card processor’s stock valued at $19,636,000 after acquiring an additional 795 shares during the period. Finally, Cedrus LLC raised its stake in Visa by 10.1% in the 4th quarter. Cedrus LLC now owns 2,010 shares of the credit-card processor’s stock valued at $523,000 after acquiring an additional 184 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In other news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Visa Price Performance

NYSE:V traded up $1.42 during trading hours on Tuesday, hitting $263.02. The company’s stock had a trading volume of 5,941,246 shares, compared to its average volume of 6,901,083. The stock has a fifty day simple moving average of $269.44 and a 200-day simple moving average of $274.34. The company has a market capitalization of $481.05 billion, a P/E ratio of 29.39, a PEG ratio of 1.83 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period last year, the firm posted $2.16 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts anticipate that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s payout ratio is 23.24%.

Wall Street Analyst Weigh In

V has been the topic of several recent research reports. Morgan Stanley lowered their price objective on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Robert W. Baird increased their price objective on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Wedbush increased their price objective on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Jefferies Financial Group lowered their price objective on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, UBS Group increased their price objective on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $307.25.

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.