Visa Inc. (NYSE:V) Shares Bought by Alterna Wealth Management Inc.

Alterna Wealth Management Inc. boosted its stake in Visa Inc. (NYSE:V) by 20.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,177 shares of the credit-card processor’s stock after buying an additional 700 shares during the period. Visa accounts for approximately 1.3% of Alterna Wealth Management Inc.’s investment portfolio, making the stock its 22nd largest holding. Alterna Wealth Management Inc.’s holdings in Visa were worth $1,087,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Trifecta Capital Advisors LLC increased its stake in shares of Visa by 2.7% during the third quarter. Trifecta Capital Advisors LLC now owns 20,176 shares of the credit-card processor’s stock valued at $4,641,000 after acquiring an additional 536 shares during the period. Lodestone Wealth Management LLC increased its holdings in shares of Visa by 1.1% in the third quarter. Lodestone Wealth Management LLC now owns 7,052 shares of the credit-card processor’s stock valued at $1,622,000 after buying an additional 77 shares in the last quarter. Sumitomo Life Insurance Co. lifted its holdings in shares of Visa by 1.1% during the third quarter. Sumitomo Life Insurance Co. now owns 34,124 shares of the credit-card processor’s stock valued at $7,849,000 after purchasing an additional 387 shares during the last quarter. Kathleen S. Wright Associates Inc. lifted its holdings in shares of Visa by 86.9% during the third quarter. Kathleen S. Wright Associates Inc. now owns 7,717 shares of the credit-card processor’s stock valued at $1,783,000 after purchasing an additional 3,589 shares during the last quarter. Finally, PDS Planning Inc boosted its position in shares of Visa by 1.8% in the 3rd quarter. PDS Planning Inc now owns 7,865 shares of the credit-card processor’s stock valued at $1,809,000 after purchasing an additional 140 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on V. Oppenheimer raised their price objective on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Citigroup boosted their price objective on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. KeyCorp increased their target price on shares of Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. Keefe, Bruyette & Woods increased their target price on shares of Visa from $305.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Finally, Raymond James increased their target price on shares of Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $303.00.

Insiders Place Their Bets

In other news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of 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 document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the sale, the chief accounting officer now owns 4,898 shares in the company, valued at approximately $1,365,954.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lloyd Carney sold 909 shares of the company’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 owns 2,591 shares in the company, valued at approximately $713,950.05. The disclosure for this sale can be found here. In the last three months, insiders sold 11,724 shares of company stock valued at $3,278,698. 0.19% of the stock is currently owned by insiders.

Visa Price Performance

Shares of NYSE:V traded up $0.88 on Friday, hitting $268.49. The stock had a trading volume of 3,862,018 shares, compared to its average volume of 6,930,902. Visa Inc. has a twelve month low of $216.14 and a twelve month high of $290.96. 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 firm’s 50 day moving average price is $278.17 and its 200-day moving average price is $265.42. The company has a market capitalization of $493.08 billion, a price-to-earnings ratio of 30.00, a price-to-earnings-growth ratio of 1.84 and a beta of 0.95.

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

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.77%. 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.