Shorepath Capital Management LLC Invests $6.81 Million in Visa Inc. (NYSE:V)

Shorepath Capital Management LLC purchased a new position in shares of Visa Inc. (NYSE:V) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 26,172 shares of the credit-card processor’s stock, valued at approximately $6,814,000. Visa makes up approximately 6.0% of Shorepath Capital Management LLC’s portfolio, making the stock its 4th biggest position.

Other institutional investors have also modified their holdings of the company. Nadler Financial Group Inc. boosted its stake in shares of Visa by 2.4% during the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after acquiring an additional 44 shares in the last quarter. Towerpoint Wealth LLC acquired a new position in shares of Visa during the 4th quarter worth approximately $216,000. Andrew Hill Investment Advisors Inc. acquired a new position in shares of Visa during the 4th quarter worth approximately $3,427,000. Richelieu Gestion SA acquired a new position in shares of Visa during the 4th quarter worth approximately $307,000. Finally, Cooper Financial Group raised its position in shares of Visa by 6.4% during the 4th quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock worth $2,064,000 after purchasing an additional 476 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of several research reports. Evercore ISI lifted their price objective on Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Macquarie boosted their price target on Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Robert W. Baird boosted their price target on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. TD Cowen assumed coverage on Visa in a report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target for the company. Finally, Mizuho boosted their price target on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $303.76.

Visa Stock Down 0.2 %

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

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

Visa Announces Dividend

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

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now 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 accessible through the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Insiders sold a total of 34,402 shares of company stock valued at $9,559,382 in the last ninety days. Insiders own 0.19% of the company’s stock.

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.