Luts & Greenleigh Group Inc. Acquires 42 Shares of Visa Inc. (NYSE:V)

Luts & Greenleigh Group Inc. lifted its stake in Visa Inc. (NYSE:V) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,700 shares of the credit-card processor’s stock after acquiring an additional 42 shares during the period. Luts & Greenleigh Group Inc.’s holdings in Visa were worth $537,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its stake in Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares in the last quarter. FMR LLC raised its position in shares of Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after buying an additional 3,265,518 shares in the last quarter. Geode Capital Management LLC boosted its stake in Visa by 7.7% during the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after buying an additional 2,772,549 shares during the period. Legal & General Group Plc grew its position in Visa by 2.2% during the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after buying an additional 312,286 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Visa by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock worth $3,188,862,000 after acquiring an additional 123,927 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Visa Stock Up 0.6 %

V stock opened at $330.20 on Friday. The business’s 50 day moving average price is $314.54 and its two-hundred day moving average price is $289.98. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market capitalization of $615.11 billion, a price-to-earnings ratio of 33.94, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $331.09.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the business earned $2.33 EPS. As a group, analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a $0.59 dividend. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Tuesday, November 12th. Visa’s payout ratio is currently 24.25%.

Analyst Ratings Changes

V has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods boosted their price target on shares of Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets raised their price target on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $334.58.

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.