Dock Street Asset Management Inc. Buys 1,714 Shares of Visa Inc. (NYSE:V)

Dock Street Asset Management Inc. lifted its stake in shares of Visa Inc. (NYSE:V) by 1.2% during the fourth quarter, Holdings Channel reports. The firm owned 145,372 shares of the credit-card processor’s stock after purchasing an additional 1,714 shares during the quarter. Visa makes up approximately 5.5% of Dock Street Asset Management Inc.’s portfolio, making the stock its 5th largest holding. Dock Street Asset Management Inc.’s holdings in Visa were worth $45,943,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC boosted its stake in Visa by 45,189.4% in the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after purchasing an additional 9,736,958 shares during the period. State Street Corp lifted its holdings in shares of Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after purchasing an additional 3,327,977 shares in the last quarter. FMR LLC boosted 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 during the period. Geode Capital Management LLC grew its holdings in shares of 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 in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Visa during the third quarter valued at $268,640,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the transaction, the general counsel now owns 11,925 shares in the company, valued at $4,054,500. This represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,056 shares of company stock worth $19,830,050. Insiders own 0.13% of the company’s stock.

Visa Stock Up 0.2 %

Visa stock opened at $348.26 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.28. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $351.25. The firm has a fifty day moving average price of $321.08 and a two-hundred day moving average price of $295.90. The firm has a market cap of $647.00 billion, a price-to-earnings ratio of 35.11, a P/E/G ratio of 2.32 and a beta of 0.97.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, analysts forecast that Visa Inc. will post 11.27 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa’s dividend payout ratio is 23.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Macquarie raised their price target on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer lifted their target price on shares of Visa from $375.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Finally, Mizuho upped their price target on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average target price of $354.73.

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.