Summitry LLC Has $64.58 Million Holdings in Visa Inc. $V

Summitry LLC raised its holdings in Visa Inc. (NYSE:V) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 189,170 shares of the credit-card processor’s stock after purchasing an additional 5,800 shares during the quarter. Visa makes up about 2.7% of Summitry LLC’s investment portfolio, making the stock its 14th largest position. Summitry LLC’s holdings in Visa were worth $64,579,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of V. Norges Bank bought a new stake in shares of Visa during the second quarter worth approximately $7,034,939,000. TCI Fund Management Ltd. grew its holdings in Visa by 14.6% during the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after purchasing an additional 2,429,996 shares during the period. Corient Private Wealth LLC increased its holdings in shares of Visa by 110.4% in the second quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock worth $1,396,930,000 after acquiring an additional 2,075,289 shares in the last quarter. Vanguard Group Inc. lifted its position in Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after acquiring an additional 1,461,575 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Visa by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after acquiring an additional 1,067,631 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $395.00 price objective on shares of Visa in a report on Friday, January 30th. Daiwa Securities Group upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 price target on the stock in a research note on Monday, February 2nd. Raymond James Financial reiterated an “outperform” rating and set a $408.00 target price (up from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Citigroup raised shares of Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research report on Wednesday, January 21st. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Visa has an average rating of “Buy” and an average target price of $392.21.

Visa Stock Performance

NYSE V opened at $314.13 on Monday. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $570.19 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 1.80 and a beta of 0.79. The stock has a fifty day simple moving average of $337.98 and a 200 day simple moving average of $339.73.

Visa (NYSE:V) last announced its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating the consensus estimate of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The business had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same period in the prior year, the business posted $2.75 earnings per share. The firm’s revenue was up 14.6% on a year-over-year basis. Sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, February 10th. Visa’s dividend payout ratio is presently 25.14%.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 2,172 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the completion of the sale, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at $3,282,641.18. The trade was a 52.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.12% of the company’s stock.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.