Steele Capital Management Inc. Takes $640,000 Position in Visa Inc. (NYSE:V)

Steele Capital Management Inc. acquired a new stake in shares of Visa Inc. (NYSE:V) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,458 shares of the credit-card processor’s stock, valued at approximately $640,000.

Several other large investors also recently made changes to their positions in V. Altshuler Shaham Ltd acquired a new position in shares of Visa in the third quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of Visa in the fourth quarter worth about $32,000. Valued Wealth Advisors LLC acquired a new position in shares of Visa in the fourth quarter worth about $37,000. Stuart Chaussee & Associates Inc. boosted its holdings in shares of Visa by 66.2% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 236 shares of the credit-card processor’s stock worth $61,000 after buying an additional 94 shares during the period. Finally, Macroview Investment Management LLC boosted its holdings in shares of Visa by 1,019.2% in the third quarter. Macroview Investment Management LLC now owns 291 shares of the credit-card processor’s stock worth $67,000 after buying an additional 265 shares during the period. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of a number of research analyst reports. Redburn Atlantic reissued a “neutral” rating and issued a $307.00 price target on shares of Visa in a research report on Wednesday, March 27th. Oppenheimer raised their price objective on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Evercore ISI raised their price objective on shares of Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Wells Fargo & Company raised their price objective on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Finally, Macquarie raised their price objective on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $302.58.

Visa Price Performance

Shares of Visa stock traded down $2.71 during trading on Monday, reaching $271.81. The company’s stock had a trading volume of 4,191,968 shares, compared to its average volume of 5,930,494. The stock has a 50-day moving average price of $279.24 and a two-hundred day moving average price of $264.73. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a one year low of $216.14 and a one year high of $290.96. The stock has a market capitalization of $499.18 billion, a P/E ratio of 30.37, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $8.62 billion. During the same period in the previous year, the business posted $2.09 earnings per share. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Dividend Announcement

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 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%.

Insiders Place Their Bets

In other news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Peter M. Andreski sold 2,615 shares of the business’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 value of $729,271.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,898 shares in the company, valued at approximately $1,365,954.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lloyd Carney sold 909 shares of the 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 directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. In the last three months, insiders sold 19,874 shares of company stock valued at $5,506,827. 0.19% of the stock is currently owned by insiders.

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.