Summit Financial LLC Purchases 2,942 Shares of Visa Inc. (NYSE:V)

Summit Financial LLC grew its stake in Visa Inc. (NYSE:V - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,139 shares of the credit-card processor's stock after buying an additional 2,942 shares during the period. Summit Financial LLC's holdings in Visa were worth $13,002,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Visa in the fourth quarter worth approximately $5,171,271,000. Vanguard Group Inc. lifted its holdings in shares of Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Visa in the 4th quarter valued at $1,955,403,000. Proficio Capital Partners LLC grew its holdings in shares of Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock valued at $1,248,079,000 after purchasing an additional 3,926,049 shares during the last quarter. Finally, State Street Corp raised its position in Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor's stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares during the period. Institutional investors own 82.15% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on V shares. Susquehanna reaffirmed a "positive" rating on shares of Visa in a research note on Friday, March 21st. Morgan Stanley increased their price target on shares of Visa from $326.00 to $371.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. boosted their target price on shares of Visa from $340.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Bank of America lifted their price target on shares of Visa from $331.00 to $363.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Finally, StockNews.com raised shares of Visa from a "hold" rating to a "buy" rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Visa currently has an average rating of "Moderate Buy" and an average target price of $355.84.

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Visa Stock Performance

NYSE V traded up $7.83 during trading hours on Monday, hitting $350.68. 9,950,145 shares of the company's stock traded hands, compared to its average volume of 7,151,735. The business's fifty day moving average price is $344.22 and its two-hundred day moving average price is $315.95. The firm has a market capitalization of $651.48 billion, a P/E ratio of 35.35, a P/E/G ratio of 2.33 and a beta of 0.95. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Equities research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. Visa's dividend payout ratio is presently 23.79%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the sale, the chief executive officer now directly owns 537 shares in the company, valued at approximately $194,931. This represents a 94.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total value of $13,395,133.50. Following the sale, the insider now directly owns 26,413 shares in the company, valued at $8,991,249.33. The trade was a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,205 shares of company stock valued at $48,560,961. Corporate insiders own 0.13% of the company's stock.

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.