HighPoint Advisor Group LLC Invests $10.84 Million in Visa Inc. (NYSE:V)

HighPoint Advisor Group LLC acquired a new stake in Visa Inc. (NYSE:V) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 38,537 shares of the credit-card processor’s stock, valued at approximately $10,837,000. Visa comprises approximately 0.8% of HighPoint Advisor Group LLC’s holdings, making the stock its 22nd biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of V. Alaethes Wealth LLC grew its holdings in shares of Visa by 0.4% during the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after purchasing an additional 37 shares during the last quarter. Garden State Investment Advisory Services LLC lifted its stake in Visa by 1.8% in the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after buying an additional 38 shares during the last quarter. Holistic Financial Partners boosted its holdings in shares of Visa by 2.0% during the fourth quarter. Holistic Financial Partners now owns 1,975 shares of the credit-card processor’s stock valued at $514,000 after acquiring an additional 39 shares during the period. GoalVest Advisory LLC grew its position in shares of Visa by 3.4% during the fourth quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock worth $317,000 after acquiring an additional 40 shares during the last quarter. Finally, Destiny Wealth Partners LLC grew its position in shares of Visa by 2.5% during the fourth quarter. Destiny Wealth Partners LLC now owns 1,668 shares of the credit-card processor’s stock worth $433,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 0.9 %

Shares of NYSE V opened at $273.62 on Wednesday. The business has a 50 day simple moving average of $273.97 and a 200 day simple moving average of $272.70. Visa Inc. has a 52 week low of $224.98 and a 52 week high of $290.96. The stock has a market cap of $500.43 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 1.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The business had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. Visa’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.09 EPS. On average, research analysts predict that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio is 23.24%.

Insider Transactions at Visa

In other Visa news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Visa news, Director Lloyd Carney sold 909 shares of Visa 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,402 shares of company stock worth $9,559,382. 0.19% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. Oppenheimer raised their target price on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. William Blair reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Wells Fargo & Company raised their target price on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Redburn Atlantic restated a “neutral” rating and set a $307.00 price target on shares of Visa in a research report on Wednesday, March 27th. Finally, Evercore ISI increased their price objective on shares of Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $303.76.

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.