Red Cedar Investment Management LLC Has $3.32 Million Position in Visa Inc. (NYSE:V)

Red Cedar Investment Management LLC raised its stake in Visa Inc. (NYSE:V - Free Report) by 31.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 9,461 shares of the credit-card processor's stock after purchasing an additional 2,247 shares during the period. Red Cedar Investment Management LLC's holdings in Visa were worth $3,316,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of V. Vanguard Group Inc. raised its position in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares during the period. Geode Capital Management LLC boosted its position in Visa by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock valued at $12,729,901,000 after purchasing an additional 1,689,926 shares during the period. Capital International Investors grew its stake 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 worth $7,526,660,000 after buying an additional 866,596 shares during the last quarter. Capital World Investors grew 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 worth $7,356,614,000 after buying an additional 241,057 shares during the last quarter. Finally, Northern Trust Corp increased its position 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 period. Institutional investors and hedge funds own 82.15% of the company's stock.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the sale, the insider owned 26,413 shares of the company's stock, valued at $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $185,576.46. 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 92,478 shares of company stock valued at $33,717,733 in the last three months. Insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Evercore ISI initiated coverage on shares of Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target for the company. Susquehanna reissued a "positive" rating on shares of Visa in a research note on Friday, March 21st. UBS Group raised their price target on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, William Blair reiterated an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of "Moderate Buy" and a consensus price target of $372.84.

Visa Stock Up 1.2%

NYSE V traded up $4.13 during trading on Thursday, reaching $358.35. 1,827,807 shares of the company's stock were exchanged, compared to its average volume of 6,841,113. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $661.20 billion, a PE ratio of 35.99, a P/E/G ratio of 2.41 and a beta of 0.92. The company's fifty day simple moving average is $354.87 and its 200-day simple moving average is $340.67. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the business posted $2.51 EPS. The company's revenue for the quarter was up 9.3% on a year-over-year basis. Sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid 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 0.66%. Visa's dividend payout ratio (DPR) is currently 23.72%.

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.