Beta Wealth Group Inc. Takes Position in Visa Inc. (NYSE:V)

Beta Wealth Group Inc. purchased a new stake in Visa Inc. (NYSE:V) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 784 shares of the credit-card processor’s stock, valued at approximately $204,000.

A number of other institutional investors also recently modified their holdings of V. Norges Bank acquired a new stake in shares of Visa in the fourth quarter worth $3,895,015,000. International Assets Investment Management LLC grew its stake in shares of Visa by 17,418.7% in the fourth quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after acquiring an additional 4,710,188 shares during the last quarter. FMR LLC grew its stake in shares of Visa by 4.7% in the third quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock worth $11,582,785,000 after acquiring an additional 2,257,605 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Visa during the third quarter worth $358,349,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Visa by 34.1% during the third quarter. The Manufacturers Life Insurance Company now owns 3,929,979 shares of the credit-card processor’s stock worth $903,955,000 after buying an additional 999,167 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $150,833.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. In the last three months, insiders sold 34,402 shares of company stock worth $9,559,382. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. TD Cowen assumed coverage on shares of Visa in a research note on Thursday, April 11th. They set a “buy” rating and a $320.00 price target on the stock. Citigroup boosted their target price on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Mizuho boosted their target price on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. William Blair restated an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Finally, UBS Group boosted their target price on shares of Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $303.76.

Visa Trading Up 0.1 %

Shares of Visa stock traded up $0.26 during trading on Friday, hitting $274.49. 4,339,967 shares of the company were exchanged, compared to its average volume of 7,948,953. The firm has a market capitalization of $502.03 billion, a P/E ratio of 30.67, a price-to-earnings-growth ratio of 1.88 and a beta of 0.95. Visa Inc. has a 1-year low of $216.14 and a 1-year high of $290.96. The firm’s fifty day moving average price is $276.70 and its 200 day moving average price is $270.06. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (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%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 EPS. As a group, sell-side analysts expect that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio is presently 23.24%.

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.