Suncoast Equity Management Buys 1,706 Shares of Visa Inc. (NYSE:V)

Suncoast Equity Management increased its stake in shares of Visa Inc. (NYSE:V) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,778 shares of the credit-card processor’s stock after buying an additional 1,706 shares during the period. Visa accounts for approximately 5.4% of Suncoast Equity Management’s holdings, making the stock its 7th biggest holding. Suncoast Equity Management’s holdings in Visa were worth $40,557,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in V. Investment Advisory Services Inc. TX ADV raised its holdings in Visa by 2.0% during the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 3,930 shares of the credit-card processor’s stock worth $904,000 after purchasing an additional 78 shares during the last quarter. Towerpoint Wealth LLC bought a new stake in Visa during the 4th quarter worth about $216,000. Wayfinding Financial LLC raised its holdings in Visa by 10.1% during the 3rd quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock worth $406,000 after purchasing an additional 161 shares during the last quarter. Richelieu Gestion SA bought a new stake in Visa during the 4th quarter worth about $307,000. Finally, Cooper Financial Group raised its holdings in Visa by 6.4% during the 4th quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock worth $2,064,000 after purchasing an additional 476 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In other news, insider Rajat Taneja sold 36,546 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $270.20, for a total value of $9,874,729.20. Following the completion of the sale, the insider now owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Rajat Taneja sold 36,546 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $270.20, for a total value of $9,874,729.20. Following the completion of the sale, the insider now owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,511 shares of company stock valued at $15,131,081. 0.19% of the stock is owned by insiders.

Visa Trading Up 0.5 %

NYSE:V opened at $272.69 on Thursday. Visa Inc. has a twelve month low of $216.14 and a twelve month high of $290.96. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average price of $279.80 and a two-hundred day moving average price of $262.56. The company has a market cap of $500.80 billion, a P/E ratio of 31.38, a price-to-earnings-growth ratio of 1.87 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. Visa had a return on equity of 50.02% and a net margin of 53.92%. The firm had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.55 billion. During the same quarter in the prior year, the firm posted $2.18 EPS. The business’s revenue was up 9.3% on a year-over-year basis. As a group, analysts expect that Visa Inc. will post 9.88 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, February 8th. Visa’s dividend payout ratio (DPR) is currently 23.94%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Citigroup boosted their price objective on Visa from $296.00 to $306.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Wedbush upped their price target on Visa from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Mizuho reaffirmed a “neutral” rating and issued a $265.00 price target on shares of Visa in a research note on Wednesday, March 27th. UBS Group upped their price target on Visa from $305.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Finally, TD Cowen began coverage on Visa in a research note on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $298.43.

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.