Cherrydale Wealth Management LLC Raises Position in Visa Inc. (NYSE:V)

Cherrydale Wealth Management LLC increased its holdings in Visa Inc. (NYSE:V) by 13.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,384 shares of the credit-card processor’s stock after buying an additional 161 shares during the period. Cherrydale Wealth Management LLC’s holdings in Visa were worth $386,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Capital International Investors raised its position in Visa by 2.7% during the fourth quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock valued at $5,973,432,000 after purchasing an additional 596,950 shares in the last quarter. Capital World Investors raised its position in Visa by 8.0% during the fourth quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock valued at $4,659,169,000 after purchasing an additional 1,323,238 shares in the last quarter. Norges Bank purchased a new stake in Visa during the fourth quarter valued at about $3,895,015,000. Ameriprise Financial Inc. raised its position in Visa by 2.7% during the third quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock valued at $3,272,846,000 after purchasing an additional 374,489 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Visa by 0.7% in the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after buying an additional 85,123 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, Director Lloyd Carney sold 909 shares of the business’s 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 sale, 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 legal filing with the SEC, which is accessible through the SEC website. In related news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was 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 $713,950.05. The disclosure for this sale can be found here. Insiders have sold a total of 34,402 shares of company stock valued at $9,559,382 in the last ninety days. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. TD Cowen assumed coverage on Visa in a report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price objective on the stock. Macquarie lifted their price objective on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Citigroup lifted their price objective on Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. UBS Group lifted their price objective on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Wedbush lifted their price objective on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $303.76.

Visa Stock Performance

Visa stock opened at $276.17 on Tuesday. The stock’s 50 day simple moving average is $274.07 and its two-hundred day simple moving average is $273.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market cap of $505.10 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 1.88 and a beta of 0.97. Visa Inc. has a fifty-two week low of $226.02 and a fifty-two week high of $290.96.

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

Visa Announces Dividend

The business 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. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio is currently 23.24%.

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.