Pineridge Advisors LLC Makes New $169,000 Investment in Visa Inc. (NYSE:V)

Pineridge Advisors LLC bought a new position in Visa Inc. (NYSE:V) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 648 shares of the credit-card processor’s stock, valued at approximately $169,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Altshuler Shaham Ltd purchased a new position in Visa during the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new position in Visa in the fourth quarter worth about $32,000. Frank Rimerman Advisors LLC purchased a new position in Visa in the fourth quarter worth about $33,000. Valued Wealth Advisors LLC purchased a new position in Visa in the fourth quarter worth about $37,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in Visa in the fourth quarter worth about $40,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Lloyd Carney sold 909 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,402 shares of company stock valued at $9,559,382. 0.19% of the stock is currently owned by insiders.

Visa Trading Down 0.2 %

Shares of NYSE V traded down $0.53 during mid-day trading on Friday, reaching $270.66. The company had a trading volume of 8,537,260 shares, compared to its average volume of 5,425,052. The business’s 50-day moving average is $274.17 and its 200-day moving average is $272.22. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a market cap of $495.02 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 1.86 and a beta of 0.97. Visa Inc. has a 52 week low of $221.37 and a 52 week high of $290.96.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. The business had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.09 earnings per share. Equities analysts expect that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s payout ratio is 23.24%.

Analysts Set New Price Targets

V has been the subject of several recent analyst reports. Macquarie lifted their target price on shares of Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. William Blair reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Oppenheimer lifted their price target on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. TD Cowen assumed coverage on shares of Visa in a research note on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target for the company. Finally, Redburn Atlantic reiterated a “neutral” rating and issued a $307.00 price target on shares of Visa in a research note on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $303.76.

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.