Palisade Asset Management LLC Buys 402 Shares of Visa Inc. (NYSE:V)

Palisade Asset Management LLC boosted its stake in shares of Visa Inc. (NYSE:V) by 0.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,198 shares of the credit-card processor’s stock after acquiring an additional 402 shares during the quarter. Visa accounts for about 1.4% of Palisade Asset Management LLC’s investment portfolio, making the stock its 22nd largest holding. Palisade Asset Management LLC’s holdings in Visa were worth $12,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. GoalVest Advisory LLC lifted its holdings in Visa by 3.4% in the 4th quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock worth $317,000 after buying an additional 40 shares during the period. Destiny Wealth Partners LLC lifted its stake in Visa by 2.5% in the fourth quarter. Destiny Wealth Partners LLC now owns 1,668 shares of the credit-card processor’s stock worth $433,000 after acquiring an additional 40 shares during the period. TCI Wealth Advisors Inc. boosted its holdings in Visa by 0.8% in the fourth quarter. TCI Wealth Advisors Inc. now owns 5,107 shares of the credit-card processor’s stock valued at $1,330,000 after acquiring an additional 40 shares in the last quarter. Sunflower Bank N.A. increased its position in Visa by 1.3% during the 4th quarter. Sunflower Bank N.A. now owns 3,143 shares of the credit-card processor’s stock valued at $818,000 after purchasing an additional 41 shares during the period. Finally, Parker Financial LLC raised its holdings in Visa by 4.8% in the 4th quarter. Parker Financial LLC now owns 925 shares of the credit-card processor’s stock worth $241,000 after purchasing an additional 42 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $150,833.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were 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 owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at $150,833.68. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Evercore ISI lifted their price target on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. William Blair reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Mizuho boosted their price objective on shares of Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Barclays raised their target price on shares of Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Finally, Keefe, Bruyette & Woods boosted their price target on Visa from $305.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $303.00.

Visa Price Performance

NYSE V traded up $0.73 on Wednesday, reaching $277.19. The company had a trading volume of 8,995,402 shares, compared to its average volume of 5,854,330. The firm’s 50 day moving average price is $277.81 and its 200 day moving average price is $266.37. Visa Inc. has a 12 month low of $216.14 and a 12 month high of $290.96. The stock has a market capitalization of $506.96 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 1.84 and a beta of 0.95. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping 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 prior year, the firm earned $2.09 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, equities analysts predict that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be given 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 dividend yield of 0.75%. Visa’s dividend payout ratio (DPR) is 23.24%.

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.