Summit X LLC Buys 3,663 Shares of Visa Inc (NYSE:V)

Summit X LLC boosted its stake in Visa Inc (NYSE:V) by 24.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,813 shares of the credit-card processor’s stock after acquiring an additional 3,663 shares during the period. Visa accounts for about 1.4% of Summit X LLC’s holdings, making the stock its 15th biggest position. Summit X LLC’s holdings in Visa were worth $3,033,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stephenson National Bank & Trust purchased a new stake in shares of Visa during the 4th quarter worth approximately $28,000. Laffer Investments purchased a new stake in Visa in the fourth quarter worth $31,000. AlphaMark Advisors LLC raised its stake in shares of Visa by 57.8% in the first quarter. AlphaMark Advisors LLC now owns 172 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 63 shares during the period. Lloyd Advisory Services LLC. purchased a new position in shares of Visa during the 4th quarter valued at $43,000. Finally, FSA Wealth Management LLC purchased a new position in shares of Visa during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 81.59% of the company’s stock.

Shares of V stock traded up $0.93 during trading hours on Tuesday, reaching $195.28. The company’s stock had a trading volume of 4,543,018 shares, compared to its average volume of 8,988,247. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. Visa Inc has a one year low of $133.93 and a one year high of $214.17. The stock has a market capitalization of $379.45 billion, a P/E ratio of 35.24, a P/E/G ratio of 3.10 and a beta of 0.93. The firm’s fifty day simple moving average is $179.54 and its 200 day simple moving average is $184.18.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, April 30th. The credit-card processor reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.04. The company had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.75 billion. Visa had a return on equity of 43.45% and a net margin of 52.26%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.31 earnings per share. As a group, equities research analysts forecast that Visa Inc will post 4.99 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Thursday, May 14th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $1.20 annualized dividend and a dividend yield of 0.61%. Visa’s dividend payout ratio is 22.06%.

A number of equities research analysts recently issued reports on V shares. Zacks Investment Research upgraded Visa from a “sell” rating to a “hold” rating and set a $181.00 price objective on the stock in a research note on Sunday, May 3rd. Oppenheimer assumed coverage on shares of Visa in a research report on Monday. They issued an “outperform” rating on the stock. Royal Bank of Canada raised their price objective on shares of Visa from $195.00 to $212.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Cowen boosted their target price on shares of Visa from $189.00 to $196.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. Finally, Morgan Stanley lifted their price target on Visa from $183.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Five investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $204.18.

In other Visa news, President Ryan Mcinerney sold 26,150 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $191.87, for a total value of $5,017,400.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the firm’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $161.40, for a total value of $1,129,800.00. Following the transaction, the chief executive officer now directly owns 142,090 shares of the company’s stock, valued at approximately $22,933,326. The disclosure for this sale can be found here. Insiders have sold a total of 40,150 shares of company stock worth $7,419,661 in the last ninety days. Insiders own 0.19% of the company’s stock.

Visa Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

Further Reading: Short Selling

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Institutional Ownership by Quarter for Visa (NYSE:V)

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