Jennison Associates LLC Purchases 85,123 Shares of Visa Inc. (NYSE:V)

Jennison Associates LLC lifted its position in Visa Inc. (NYSE:V) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,824,113 shares of the credit-card processor’s stock after purchasing an additional 85,123 shares during the quarter. Visa comprises about 2.3% of Jennison Associates LLC’s investment portfolio, making the stock its 13th biggest position. Jennison Associates LLC’s holdings in Visa were worth $3,078,408,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Trifecta Capital Advisors LLC increased its stake in Visa by 2.7% during the third quarter. Trifecta Capital Advisors LLC now owns 20,176 shares of the credit-card processor’s stock worth $4,641,000 after acquiring an additional 536 shares during the last quarter. HB Wealth Management LLC increased its stake in Visa by 7.2% during the third quarter. HB Wealth Management LLC now owns 75,964 shares of the credit-card processor’s stock worth $17,473,000 after acquiring an additional 5,114 shares during the last quarter. Institute for Wealth Management LLC. increased its stake in Visa by 2.3% during the third quarter. Institute for Wealth Management LLC. now owns 13,979 shares of the credit-card processor’s stock worth $3,215,000 after acquiring an additional 315 shares during the last quarter. Cooper Financial Group increased its stake in Visa by 6.2% during the third quarter. Cooper Financial Group now owns 7,450 shares of the credit-card processor’s stock worth $1,713,000 after acquiring an additional 433 shares during the last quarter. Finally, Scharf Investments LLC increased its stake in Visa by 7,058.9% during the third quarter. Scharf Investments LLC now owns 592,904 shares of the credit-card processor’s stock worth $136,374,000 after acquiring an additional 584,622 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Up 0.9 %

Visa stock opened at $272.31 on Tuesday. The business has a fifty day moving average of $279.52 and a two-hundred day moving average of $263.62. 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 firm has a market cap of $500.10 billion, a P/E ratio of 31.34, a P/E/G ratio of 1.86 and a beta of 0.96. Visa Inc. has a twelve month low of $216.14 and a twelve month high of $290.96.

Visa (NYSE:V) last posted its 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. The company had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.55 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. Visa’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.18 earnings per share. On average, analysts forecast that Visa Inc. will post 9.88 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders 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 dividend yield of 0.76%. The ex-dividend date was Thursday, February 8th. Visa’s payout ratio is presently 23.94%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,898 shares in the company, valued at $1,365,954.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,965 shares of company stock valued at $5,256,352. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Susquehanna boosted their price objective on Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a research note on Friday, January 26th. Wells Fargo & Company boosted their target price on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Barclays boosted their target price on Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Citigroup boosted their target price on Visa from $296.00 to $306.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Finally, KeyCorp boosted their target price on Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, January 8th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average target price of $298.43.

Visa Company 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.