Point72 Europe London LLP Buys 45,558 Shares of Visa Inc. (NYSE:V)

Point72 Europe London LLP increased its position in Visa Inc. (NYSE:V) by 180.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,858 shares of the credit-card processor’s stock after buying an additional 45,558 shares during the period. Visa accounts for approximately 1.3% of Point72 Europe London LLP’s investment portfolio, making the stock its 22nd biggest holding. Point72 Europe London LLP’s holdings in Visa were worth $22,394,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Hirtle Callaghan & Co LLC raised its stake in Visa by 1.3% in the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock valued at $724,000 after purchasing an additional 29 shares during the last quarter. FWL Investment Management LLC grew its holdings in shares of Visa by 0.5% during the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock worth $2,005,000 after buying an additional 29 shares in the last quarter. Elevation Wealth Partners LLC raised its position in shares of Visa by 3.3% in the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock valued at $297,000 after buying an additional 30 shares during the last quarter. Warther Private Wealth LLC raised its position in shares of Visa by 1.0% in the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after buying an additional 30 shares during the last quarter. Finally, Valmark Advisers Inc. lifted its stake in shares of Visa by 0.4% during the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after buying an additional 30 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on V. Bank of America lifted their price objective on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Visa in a report on Thursday, February 13th. Evercore ISI assumed coverage on shares of Visa in a report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 target price for the company. Raymond James reaffirmed an “outperform” rating and set a $393.00 price target (up previously from $374.00) on shares of Visa in a research report on Friday, January 31st. Finally, StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Monday. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $362.38.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 14,813 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $355.04, for a total value of $5,259,207.52. Following the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $9,377,671.52. This trade represents a 35.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel now directly owns 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 121,948 shares of company stock valued at $41,548,282. Insiders own 0.13% of the company’s stock.

Visa Trading Down 0.0%

NYSE:V opened at $356.11 on Thursday. Visa Inc. has a one year low of $252.70 and a one year high of $366.54. The business’s 50-day simple moving average is $337.51 and its 200 day simple moving average is $328.23. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $661.57 billion, a price-to-earnings ratio of 35.90, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the company posted $2.51 EPS. Visa’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa’s dividend payout ratio is currently 23.72%.

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.