AMI Investment Management Inc. Boosts Stake in Visa Inc. (NYSE:V)

AMI Investment Management Inc. lifted its stake in Visa Inc. (NYSE:V) by 1.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,804 shares of the credit-card processor’s stock after purchasing an additional 252 shares during the period. Visa accounts for approximately 1.5% of AMI Investment Management Inc.’s holdings, making the stock its 20th largest position. AMI Investment Management Inc.’s holdings in Visa were worth $4,132,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Nomura Holdings Inc. increased its stake in Visa by 101.7% in the 3rd quarter. Nomura Holdings Inc. now owns 1,993 shares of the credit-card processor’s stock worth $458,000 after buying an additional 116,934 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its stake in Visa by 156.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 72,096 shares of the credit-card processor’s stock worth $16,583,000 after buying an additional 44,013 shares in the last quarter. Hodges Capital Management Inc. purchased a new stake in Visa in the 3rd quarter worth $1,000,000. Advanced Portfolio Management LLC increased its stake in Visa by 14.6% in the 3rd quarter. Advanced Portfolio Management LLC now owns 6,898 shares of the credit-card processor’s stock worth $1,587,000 after buying an additional 877 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its holdings in shares of Visa by 77.4% during the 3rd quarter. Axxcess Wealth Management LLC now owns 50,931 shares of the credit-card processor’s stock valued at $11,715,000 after purchasing an additional 22,223 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of NYSE V traded down $4.12 during trading on Friday, hitting $262.47. The company had a trading volume of 13,957,270 shares, compared to its average volume of 8,762,266. Visa Inc. has a fifty-two week low of $227.68 and a fifty-two week high of $290.96. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $273.88 and a two-hundred day simple moving average of $273.58. The firm has a market capitalization of $480.04 billion, a price-to-earnings ratio of 29.33, a price-to-earnings-growth ratio of 1.80 and a beta of 0.97.

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

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is 23.24%.

Wall Street Analyst Weigh In

V has been the subject of several research reports. Citigroup increased their price objective on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Mizuho increased their price target on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Wells Fargo & Company increased their price target on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Wedbush increased their price target on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada increased their price target on shares of Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $303.56.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of Visa 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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the insider now directly owns 17,894 shares in the company, valued at $4,959,322.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,402 shares of company stock worth $9,559,382. 0.19% of the stock is owned by corporate insiders.

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.