City National Bank of Florida MSD Makes New $899,000 Investment in Visa Inc. (NYSE:V)

City National Bank of Florida MSD acquired a new stake in Visa Inc. (NYSE:V - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,845 shares of the credit-card processor's stock, valued at approximately $899,000. Visa accounts for 0.8% of City National Bank of Florida MSD's portfolio, making the stock its 21st biggest holding.

Other hedge funds also recently modified their holdings of the company. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa during the fourth quarter valued at approximately $27,000. POM Investment Strategies LLC boosted its stake in Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock worth $31,000 after buying an additional 32 shares in the last quarter. Compass Planning Associates Inc bought a new stake in Visa in the 4th quarter valued at $32,000. NewSquare Capital LLC acquired a new position in shares of Visa in the 4th quarter valued at $35,000. Finally, FPC Investment Advisory Inc. lifted its holdings in shares of Visa by 377.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock worth $36,000 after acquiring an additional 83 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

Shares of V traded down $3.93 during mid-day trading on Friday, hitting $354.04. 5,345,160 shares of the company traded hands, compared to its average volume of 7,026,462. 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 stock has a market capitalization of $653.27 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 2.33 and a beta of 0.96. The business has a 50-day moving average of $341.47 and a 200 day moving average of $331.92. Visa Inc. has a one year low of $252.70 and a one year high of $369.15.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company earned $2.51 EPS. As a group, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. Visa's payout ratio is 23.72%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Raymond James reissued an "outperform" rating and issued a $393.00 target price (up previously from $374.00) on shares of Visa in a research note on Friday, January 31st. Wells Fargo & Company upped their price objective on Visa from $360.00 to $395.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Barclays raised their target price on Visa from $361.00 to $396.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. BMO Capital Markets boosted their price target on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Finally, Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $362.38.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel now owns 11,925 shares of the company's stock, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total value of $3,129,060.00. Following the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $194,931. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 121,948 shares of company stock valued at $41,548,282. 0.13% of the stock is currently owned by insiders.

Visa 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.