Sunbeam Capital Management LLC Buys New Holdings in Visa Inc. (NYSE:V)

Sunbeam Capital Management LLC purchased a new position in Visa Inc. (NYSE:V - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,155 shares of the credit-card processor's stock, valued at approximately $365,000. Visa accounts for approximately 0.8% of Sunbeam Capital Management LLC's investment portfolio, making the stock its 28th largest position.

Other institutional investors also recently modified their holdings of the company. Montchanin Asset Management LLC bought a new stake in Visa during the 4th quarter valued at $201,000. Michels Family Financial LLC bought a new stake in shares of Visa in the 4th quarter worth $766,000. Castlekeep Investment Advisors LLC bought a new position in Visa during the fourth quarter valued at about $9,389,000. Toronto Dominion Bank grew its position in Visa by 3.7% during the fourth quarter. Toronto Dominion Bank now owns 613,002 shares of the credit-card processor's stock valued at $193,723,000 after buying an additional 21,827 shares during the period. Finally, Three Cord True Wealth Management LLC bought a new position in Visa during the fourth quarter valued at about $267,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Insiders Place Their Bets

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

Visa Trading Up 0.7%

NYSE V traded up $2.42 on Thursday, reaching $362.15. 1,893,354 shares of the company were exchanged, compared to its average volume of 6,992,139. The business's fifty day moving average price is $342.62 and its 200 day moving average price is $332.80. The stock has a market capitalization 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. 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 Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $369.15.

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

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.65%. Visa's dividend payout ratio (DPR) is 23.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on V shares. Citigroup reaffirmed a "neutral" rating on shares of Visa in a report on Thursday, February 13th. UBS Group increased their price target on shares of Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a report on Wednesday. Oppenheimer reissued an "outperform" rating on shares of Visa in a report on Thursday, February 13th. Evercore ISI started coverage on shares of Visa in a research report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target on the stock. Finally, Keefe, Bruyette & Woods restated a "hold" rating on shares of Visa in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $366.13.

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.