Pines Wealth Management LLC Takes $2.05 Million Position in Visa Inc. (NYSE:V)

Pines Wealth Management LLC bought a new position in shares of Visa Inc. (NYSE:V) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,658 shares of the credit-card processor’s stock, valued at approximately $2,049,000. Visa accounts for approximately 0.9% of Pines Wealth Management LLC’s portfolio, making the stock its 25th biggest holding.

Other large investors have also added to or reduced their stakes in the company. Wulff Hansen & CO. grew its holdings in Visa by 26,951.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock valued at $416,788,000 after buying an additional 1,582,074 shares in the last quarter. WealthPLAN Partners LLC boosted its position in shares of Visa by 1.8% in the second quarter. WealthPLAN Partners LLC now owns 14,183 shares of the credit-card processor’s stock valued at $3,723,000 after acquiring an additional 254 shares during the period. Luts & Greenleigh Group Inc. acquired a new position in shares of Visa in the second quarter valued at about $335,000. Lmcg Investments LLC increased its position in Visa by 1.7% during the second quarter. Lmcg Investments LLC now owns 73,016 shares of the credit-card processor’s stock worth $19,165,000 after acquiring an additional 1,228 shares during the period. Finally, Excalibur Management Corp raised its stake in Visa by 0.9% in the 2nd quarter. Excalibur Management Corp now owns 13,407 shares of the credit-card processor’s stock worth $3,519,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

V has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised their price objective on Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Bank of America increased their target price on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Macquarie boosted their price target on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Mizuho increased their price objective on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $331.92.

Visa Stock Performance

NYSE:V opened at $309.24 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $321.61. The company has a fifty day moving average of $312.76 and a 200-day moving average of $287.65. The firm has a market capitalization of $576.08 billion, a P/E ratio of 31.78, a P/E/G ratio of 2.11 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.33 earnings per share. As a group, sell-side analysts anticipate that Visa Inc. will post 11.23 EPS for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were issued a $0.59 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.76%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is presently 24.25%.

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.