Cerro Pacific Wealth Advisors LLC Raises Stake in Visa Inc. (NYSE:V)

Cerro Pacific Wealth Advisors LLC lifted its position in Visa Inc. (NYSE:V) by 16.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,361 shares of the credit-card processor’s stock after purchasing an additional 331 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Visa were worth $746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of V. Scientech Research LLC raised its position in shares of Visa by 35.5% during the second quarter. Scientech Research LLC now owns 4,907 shares of the credit-card processor’s stock valued at $1,288,000 after buying an additional 1,285 shares during the last quarter. Susquehanna International Group Ltd. purchased a new position in Visa during the second quarter valued at $241,000. Texas Capital Bank Wealth Management Services Inc grew its stake in Visa by 28.4% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 2,814 shares of the credit-card processor’s stock valued at $739,000 after acquiring an additional 623 shares in the last quarter. Kathmere Capital Management LLC increased its holdings in Visa by 7.5% in the 2nd quarter. Kathmere Capital Management LLC now owns 10,337 shares of the credit-card processor’s stock valued at $2,713,000 after acquiring an additional 719 shares during the last quarter. Finally, Brick & Kyle Associates lifted its stake in Visa by 5.2% in the 2nd quarter. Brick & Kyle Associates now owns 19,030 shares of the credit-card processor’s stock worth $4,995,000 after purchasing an additional 935 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Up 0.6 %

V stock opened at $330.20 on Friday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $331.09. The firm’s 50-day moving average is $314.95 and its 200 day moving average is $290.42. The company has a market capitalization of $615.11 billion, a PE ratio of 33.94, a P/E/G ratio of 2.17 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company posted $2.33 earnings per share. On average, research analysts anticipate that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.71%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio is currently 24.25%.

Analysts Set New Price Targets

V has been the topic of several research reports. Keefe, Bruyette & Woods lifted their target price on Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Susquehanna lifted their price objective on Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a research note on Wednesday, December 11th. Mizuho increased their target price on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Bank of America raised their target price on shares of Visa from $314.00 to $331.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Royal Bank of Canada upped their price target on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $334.58.

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.