Elevate Capital Advisors LLC Invests $2.55 Million in Visa Inc. (NYSE:V)

Elevate Capital Advisors LLC bought a new position in shares of Visa Inc. (NYSE:V) in the fourth quarter, HoldingsChannel reports. The firm bought 8,081 shares of the credit-card processor’s stock, valued at approximately $2,554,000. Visa comprises about 2.2% of Elevate Capital Advisors LLC’s investment portfolio, making the stock its 12th largest position.

Several other institutional investors also recently bought and sold shares of the stock. Savant Capital LLC lifted its position in shares of Visa by 4.0% in the fourth quarter. Savant Capital LLC now owns 44,038 shares of the credit-card processor’s stock worth $13,918,000 after buying an additional 1,705 shares in the last quarter. Wagner Wealth Management LLC increased its stake in Visa by 9.9% in the 4th quarter. Wagner Wealth Management LLC now owns 1,342 shares of the credit-card processor’s stock worth $424,000 after acquiring an additional 121 shares during the last quarter. Canvas Wealth Advisors LLC boosted its position in shares of Visa by 3.2% during the 4th quarter. Canvas Wealth Advisors LLC now owns 2,164 shares of the credit-card processor’s stock valued at $684,000 after acquiring an additional 68 shares during the last quarter. RAM Investment Partners LLC boosted its position in shares of Visa by 7.5% during the 4th quarter. RAM Investment Partners LLC now owns 2,046 shares of the credit-card processor’s stock valued at $647,000 after acquiring an additional 142 shares during the last quarter. Finally, Angeles Wealth Management LLC grew its holdings in shares of Visa by 7.2% in the fourth quarter. Angeles Wealth Management LLC now owns 15,928 shares of the credit-card processor’s stock valued at $5,034,000 after purchasing an additional 1,064 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares in the company, valued at $12,789,689.82. This trade represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,056 shares of company stock worth $19,830,050. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Down 0.1 %

Shares of NYSE V opened at $350.88 on Wednesday. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $352.12. The firm has a market cap of $651.85 billion, a PE ratio of 35.37, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97. The business has a fifty day simple moving average of $321.77 and a two-hundred day simple moving average of $296.88. The company has a quick ratio of 1.28, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating 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%. Analysts expect that Visa Inc. will post 11.27 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared 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 is Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. Visa’s payout ratio is presently 23.79%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on V shares. William Blair reaffirmed an “outperform” rating on shares of Visa in a research note on Friday, January 31st. Oppenheimer increased their price target on shares of Visa from $375.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Jefferies Financial Group boosted their price objective on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Robert W. Baird raised their price objective on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, TD Cowen boosted their target price on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four investment 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.73.

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.