Michels Family Financial LLC Takes $766,000 Position in Visa Inc. (NYSE:V)

Michels Family Financial LLC purchased a new position in shares of Visa Inc. (NYSE:V - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,423 shares of the credit-card processor's stock, valued at approximately $766,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of V. Norges Bank bought a new position in shares of Visa in the fourth quarter worth $5,171,271,000. Vanguard Group Inc. lifted its holdings in shares of Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after purchasing an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Visa during the fourth quarter valued at $1,955,403,000. Proficio Capital Partners LLC lifted its holdings in shares of Visa by 17,018.7% during the fourth 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, Northern Trust Corp lifted its holdings in shares of Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after purchasing an additional 2,785,707 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on V. Keefe, Bruyette & Woods reaffirmed a "hold" rating on shares of Visa in a report on Thursday, February 13th. BMO Capital Markets lifted their target price on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group lifted their price objective on Visa from $346.00 to $384.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Evercore ISI assumed coverage on Visa in a report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Visa from $340.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Six 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $366.13.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the 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 completion of the transaction, the chief executive officer now owns 537 shares of the company's stock, valued at $194,931. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,948 shares of company stock valued at $41,548,282 in the last ninety days. Company insiders own 0.13% of the company's stock.

Visa Stock Performance

V traded up $2.42 on Thursday, reaching $362.15. The stock had a trading volume of 1,893,354 shares, compared to its average volume of 6,992,139. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $369.15. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The business's 50-day moving average price is $342.62 and its two-hundred day moving average price is $332.80. The company has a market cap of $668.22 billion, a P/E ratio of 36.49, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.51 earnings per share. Sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.65%. 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.