Polymer Capital Management HK LTD Acquires New Holdings in Visa Inc. (NYSE:V)

Polymer Capital Management HK LTD bought a new position in Visa Inc. (NYSE:V) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 1,000 shares of the credit-card processor’s stock, valued at approximately $316,000.

Several other hedge funds have also modified their holdings of the company. Riverstone Advisors LLC purchased a new position in Visa during the 4th quarter worth $217,000. Journey Strategic Wealth LLC grew its stake in shares of Visa by 16.4% during the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after acquiring an additional 1,361 shares during the last quarter. King Wealth Management Group increased its holdings in shares of Visa by 9.0% during the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after acquiring an additional 6,172 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Visa in the 4th quarter valued at approximately $10,163,000. Finally, Copley Financial Group Inc. acquired a new stake in Visa in the 3rd quarter worth approximately $616,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the sale, the insider now owns 26,413 shares of the company’s stock, valued at $8,642,333.60. This represents a 59.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $2,930,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 143,205 shares of company stock worth $48,842,490. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Down 7.6 %

Shares of V stock opened at $313.46 on Monday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54. The company has a market cap of $582.34 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a 50 day simple moving average of $345.02 and a 200-day simple moving average of $317.27.

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 analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, equities research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.75%. The ex-dividend date was Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, March 28th. Bank of America lifted their price target on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Susquehanna restated a “positive” rating on shares of Visa in a research note on Friday, March 21st. Finally, UBS Group increased their price target on shares of Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $355.84.

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.