Miller Financial Services LLC Acquires New Position in Visa Inc. (NYSE:V)

Miller Financial Services LLC purchased a new stake in shares of Visa Inc. (NYSE:V) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,015 shares of the credit-card processor’s stock, valued at approximately $1,585,000. Visa accounts for 1.3% of Miller Financial Services LLC’s holdings, making the stock its 19th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Peterson Financial Group Inc. bought a new position in shares of Visa in the third quarter worth approximately $26,000. Decker Retirement Planning Inc. bought a new position in shares of Visa in the fourth quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Visa in the fourth quarter worth approximately $27,000. POM Investment Strategies LLC increased its position in shares of Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares during the last quarter. Finally, Modus Advisors LLC bought a new position in shares of Visa in the fourth quarter worth approximately $32,000. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

Shares of V stock opened at $341.07 on Tuesday. The stock has a fifty day moving average of $336.69 and a 200 day moving average of $309.43. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54. The firm has a market capitalization of $633.63 billion, a price-to-earnings ratio of 34.38, a PEG ratio of 2.33 and a beta of 0.95. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.69%. Visa’s dividend payout ratio (DPR) is 23.79%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the transaction, the chief executive officer now directly owns 537 shares in the company, valued at $194,931. This trade represents a 94.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tullier Kelly Mahon sold 33,741 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the transaction, the insider now owns 36,566 shares of the company’s stock, valued at $12,789,689.82. The trade was a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,505 shares of company stock worth $22,290,507. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on V shares. Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Wells Fargo & Company upped their target price on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and issued a $393.00 target price (up previously from $374.00) on shares of Visa in a research note on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of Visa in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. upped their target price on Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Visa has an average rating of “Moderate Buy” and an average target price of $353.96.

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.