Morton Capital Management LLC CA Has $791,000 Holdings in Visa Inc. (NYSE:V)

Morton Capital Management LLC CA raised its position in shares of Visa Inc. (NYSE:V) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,039 shares of the credit-card processor’s stock after acquiring an additional 128 shares during the period. Morton Capital Management LLC CA’s holdings in Visa were worth $791,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in V. State Street Corp boosted its stake in Visa by 1.7% in the 2nd quarter. State Street Corp now owns 74,133,003 shares of the credit-card processor’s stock valued at $17,605,106,000 after buying an additional 1,235,891 shares in the last quarter. Morgan Stanley increased its position in shares of Visa by 13.0% during the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock worth $10,621,287,000 after purchasing an additional 5,864,340 shares in the last quarter. FMR LLC lifted its holdings in Visa by 4.7% during 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 purchasing an additional 2,257,605 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in Visa by 116,608.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock valued at $5,090,978,000 after buying an additional 24,483,134 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Visa by 5.7% during the second quarter. Royal Bank of Canada now owns 18,879,347 shares of the credit-card processor’s stock worth $4,483,466,000 after buying an additional 1,015,104 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

Shares of Visa stock traded up $0.06 during trading on Thursday, hitting $279.08. 5,775,501 shares of the stock traded hands, compared to its average volume of 5,649,565. The firm’s fifty day moving average is $279.11 and its 200-day moving average is $258.66. The stock has a market cap of $512.53 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 1.94 and a beta of 0.96. Visa Inc. has a 52 week low of $216.14 and a 52 week high of $290.96. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) 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 firm had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.55 billion. During the same period last year, the firm earned $2.18 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. Research analysts expect that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. Visa’s payout ratio is presently 23.94%.

Insider Activity at Visa

In related news, insider Rajat Taneja sold 36,546 shares of Visa stock in a transaction on Friday, January 19th. The shares were sold at an average price of $270.20, for a total value of $9,874,729.20. Following the sale, the insider now owns 232,112 shares in the company, valued at $62,716,662.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the transaction, the chief accounting officer now owns 4,898 shares in the company, valued at $1,365,954.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Rajat Taneja sold 36,546 shares of the company’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the completion of the sale, the insider now owns 232,112 shares in the company, valued at approximately $62,716,662.40. The disclosure for this sale can be found here. Insiders have sold a total of 47,311 shares of company stock worth $12,832,129 in the last 90 days. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on V shares. Royal Bank of Canada raised their target price on shares of Visa from $290.00 to $309.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Wedbush increased their price target on Visa from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Raymond James lifted their price objective on Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Barclays upped their price target on Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Finally, Monness Crespi & Hardt began coverage on shares of Visa in a report on Wednesday, December 20th. They set a “neutral” rating for the company. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $295.82.

Visa 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.