Redwood Investment Management LLC Purchases 43 Shares of Visa Inc. (NYSE:V)

Redwood Investment Management LLC grew its position in shares of Visa Inc. (NYSE:V) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,636 shares of the credit-card processor’s stock after purchasing an additional 43 shares during the period. Redwood Investment Management LLC’s holdings in Visa were worth $2,413,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in V. Norges Bank bought a new position in shares of Visa in the 4th quarter worth $5,171,271,000. Vanguard Group Inc. grew its position in Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. bought a new position in Visa in the fourth quarter valued at $1,955,403,000. Proficio Capital Partners LLC raised its position in Visa by 17,018.7% during the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after purchasing an additional 3,926,049 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after purchasing an additional 2,785,707 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Visa in a report on Thursday, February 13th. UBS Group decreased their target price on shares of Visa from $400.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Barclays upped their price target on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Evercore ISI started coverage on Visa in a report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price objective on the stock. Finally, Macquarie dropped their target price on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $362.38.

Visa Trading Down 0.0%

NYSE V opened at $356.11 on Thursday. The firm has a market capitalization of $661.57 billion, a PE ratio of 35.90, a P/E/G ratio of 2.33 and a beta of 0.96. The stock’s 50 day moving average is $337.51 and its 200 day moving average is $328.23. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. 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 posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the previous year, the firm posted $2.51 earnings per share. Visa’s quarterly revenue was up 9.3% on a year-over-year basis. Research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. Visa’s dividend payout ratio is currently 23.72%.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel now owns 11,925 shares in the company, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $8,642,333.60. The trade was a 59.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,948 shares of company stock valued at $41,548,282 in the last 90 days. Corporate insiders own 0.13% 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.