Sweeney & Michel LLC Makes New $601,000 Investment in Visa Inc. (NYSE:V)

Sweeney & Michel LLC bought a new stake in shares of Visa Inc. (NYSE:V - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,716 shares of the credit-card processor's stock, valued at approximately $601,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares in the last quarter. Geode Capital Management LLC boosted its stake in Visa by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after purchasing an additional 1,689,926 shares in the last quarter. Capital International Investors grew its position in Visa by 3.8% during the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock valued at $7,526,660,000 after purchasing an additional 866,596 shares during the last quarter. Capital World Investors increased its stake in Visa by 1.0% during the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock valued at $7,356,614,000 after purchasing an additional 241,057 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after buying an additional 2,785,707 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the sale, the chief executive officer now directly owns 537 shares in the company, valued at approximately $188,186.28. The trade was a 94.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul D. Fabara sold 14,813 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the transaction, the insider now directly owns 26,413 shares of the company's stock, valued at $9,377,671.52. This trade represents a 35.93% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,328 shares of company stock valued at $38,419,222. Corporate insiders own 0.13% of the company's stock.

Visa Price Performance

Shares of V traded up $0.80 during mid-day trading on Tuesday, reaching $366.12. The stock had a trading volume of 5,221,297 shares, compared to its average volume of 6,996,385. The firm has a market cap of $675.56 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 2.33 and a beta of 0.96. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $369.15. The business has a fifty day moving average of $343.82 and a 200 day moving average of $334.27. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

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

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. Visa's dividend payout ratio is presently 23.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on V shares. Macquarie reduced their price target on shares of Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Barclays lifted their target price on Visa from $361.00 to $396.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Susquehanna reaffirmed a "positive" rating on shares of Visa in a report on Friday, March 21st. Evercore ISI assumed coverage on Visa in a report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price objective for the company. Finally, BMO Capital Markets upped their target price on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Visa has an average rating of "Moderate Buy" and a consensus target price of $367.48.

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.