SummitTX Capital L.P. Has $5.53 Million Holdings in Visa Inc. $V

SummitTX Capital L.P. cut its position in shares of Visa Inc. (NYSE:V) by 41.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,296 shares of the credit-card processor’s stock after selling 12,929 shares during the period. SummitTX Capital L.P.’s holdings in Visa were worth $5,530,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Invariant Investment Management acquired a new position in Visa during the fourth quarter valued at approximately $969,000. Nixon Peabody Trust Co. lifted its stake in shares of Visa by 58.1% in the first quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor’s stock worth $1,270,000 after buying an additional 1,543 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Visa by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after buying an additional 1,054,343 shares during the period. Savvy Advisors Inc. boosted its holdings in shares of Visa by 30.1% during the 4th quarter. Savvy Advisors Inc. now owns 28,922 shares of the credit-card processor’s stock worth $10,143,000 after buying an additional 6,688 shares during the period. Finally, Wealth Enhancement Trust Services Inc. acquired a new position in Visa in the 4th quarter valued at $15,966,000. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the transaction, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at approximately $3,206,524.32. This trade represents a 51.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the transaction, the chief executive officer directly owned 15,174 shares in the company, valued at $5,161,284.36. The trade was a 67.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 75,581 shares of company stock worth $25,627,975 in the last 90 days. 0.12% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Robert W. Baird set a $412.00 target price on shares of Visa and gave the stock an “outperform” rating in a report on Monday, July 6th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $450.00 price target on shares of Visa in a research report on Tuesday, June 2nd. Loop Capital initiated coverage on Visa in a research report on Tuesday, March 31st. They issued a “buy” rating and a $387.00 price target on the stock. Erste Group Bank upgraded Visa from a “hold” rating to a “buy” rating in a research note on Monday. Finally, BMO Capital Markets reissued an “outperform” rating and set a $387.00 price objective (up from $375.00) on shares of Visa in a research report on Wednesday, July 15th. Eight equities research analysts have rated the stock with a Strong Buy rating and nineteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $399.41.

Visa Stock Up 1.9%

V stock opened at $362.37 on Tuesday. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $365.14. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. The company has a market cap of $650.01 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 1.89 and a beta of 0.75. The business’s 50-day simple moving average is $338.16 and its 200 day simple moving average is $325.18.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.76 EPS. On average, research analysts anticipate that Visa Inc. will post 13.12 earnings per share for the current year.

Visa announced that its board has authorized a stock repurchase plan on Tuesday, April 28th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Visa Company 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.