Elite Life Management LLC Invests $359,000 in Visa Inc. (NYSE:V)

Elite Life Management LLC purchased a new position in shares of Visa Inc. (NYSE:V) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,381 shares of the credit-card processor’s stock, valued at approximately $359,000. Visa comprises about 2.1% of Elite Life Management LLC’s holdings, making the stock its 15th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Lee Danner & Bass Inc. increased its holdings in Visa by 0.4% in the 4th quarter. Lee Danner & Bass Inc. now owns 62,127 shares of the credit-card processor’s stock valued at $16,175,000 after purchasing an additional 259 shares during the last quarter. Diversified LLC increased its holdings in Visa by 5.0% in the 4th quarter. Diversified LLC now owns 3,361 shares of the credit-card processor’s stock valued at $875,000 after purchasing an additional 160 shares during the last quarter. Jennison Associates LLC increased its holdings in Visa by 0.7% in the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after purchasing an additional 85,123 shares during the last quarter. Duality Advisers LP increased its holdings in Visa by 67.2% in the 4th quarter. Duality Advisers LP now owns 25,503 shares of the credit-card processor’s stock valued at $6,640,000 after purchasing an additional 10,246 shares during the last quarter. Finally, Keeler Thomas Management LLC increased its holdings in Visa by 5.0% in the 4th quarter. Keeler Thomas Management LLC now owns 16,787 shares of the credit-card processor’s stock valued at $4,370,000 after purchasing an additional 803 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

Visa stock opened at $272.31 on Tuesday. The stock has a market cap of $500.10 billion, a P/E ratio of 31.34, a price-to-earnings-growth ratio of 1.86 and a beta of 0.96. The company has a fifty day simple moving average of $279.52 and a 200-day simple moving average of $263.62. Visa Inc. has a 12-month low of $216.14 and a 12-month high of $290.96. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54.

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

Visa Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently weighed in on V. Redburn Atlantic reiterated a “neutral” rating and issued a $307.00 target price on shares of Visa in a report on Wednesday, March 27th. Citigroup lifted their target price on shares of Visa from $296.00 to $306.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Wells Fargo & Company raised their price target on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. William Blair reissued an “outperform” rating on shares of Visa in a research report on Friday, January 26th. Finally, TD Cowen began coverage on shares of Visa in a research report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target for the company. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $298.43.

Insider Buying and Selling

In related news, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the sale, the chief accounting officer now directly owns 4,898 shares in the company, valued at approximately $1,365,954.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the transaction, the chief accounting officer now owns 4,898 shares in the company, valued at $1,365,954.24. The disclosure for this sale can be found here. Insiders have sold 18,965 shares of company stock worth $5,256,352 in the last ninety days. 0.19% of the stock is owned by corporate insiders.

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.