Summit Wealth & Retirement Planning Inc. Cuts Stake in Visa Inc. (NYSE:V)

Summit Wealth & Retirement Planning Inc. reduced its position in Visa Inc. (NYSE:V) by 3.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,223 shares of the credit-card processor’s stock after selling 39 shares during the period. Summit Wealth & Retirement Planning Inc.’s holdings in Visa were worth $318,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of V. Altshuler Shaham Ltd acquired a new stake in shares of Visa during the third quarter worth $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of Visa during the fourth quarter worth $32,000. Nalls Sherbakoff Group LLC lifted its stake in shares of Visa by 545.5% during the third quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock worth $33,000 after buying an additional 120 shares during the period. Valued Wealth Advisors LLC acquired a new stake in shares of Visa during the fourth quarter worth $37,000. Finally, Life Planning Partners Inc acquired a new stake in shares of Visa during the fourth quarter worth $71,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Visa

In related news, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $273.39, for a total transaction of $2,228,128.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the sale, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,965 shares of company stock valued at $5,256,352. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Up 0.9 %

V stock opened at $272.31 on Tuesday. The stock has a market capitalization of $500.10 billion, a P/E ratio of 31.34, a P/E/G ratio of 1.86 and a beta of 0.96. The firm has a 50-day simple moving average of $279.52 and a 200-day simple moving average of $263.62. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54. Visa Inc. has a 52 week low of $216.14 and a 52 week high of $290.96.

Visa (NYSE:V) last released its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. The business had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.55 billion. Visa had a net margin of 53.92% and a return on equity of 50.02%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.18 earnings per share. Equities analysts forecast that Visa Inc. will post 9.88 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio is currently 23.94%.

Analyst Ratings Changes

V has been the subject of a number of research reports. KeyCorp boosted their target price on shares of Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, January 8th. Susquehanna boosted their target price on shares of Visa from $300.00 to $326.00 and gave the company a “positive” rating in a research report on Friday, January 26th. Wells Fargo & Company boosted their target price on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Barclays boosted their target price on shares of Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Finally, Redburn Atlantic restated a “neutral” rating and set a $307.00 target price on shares of Visa in a research report on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $298.43.

About Visa

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.