CacheTech Inc. Takes Position in Visa Inc. (NYSE:V)

CacheTech Inc. purchased a new position in shares of Visa Inc. (NYSE:V) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 635 shares of the credit-card processor’s stock, valued at approximately $201,000.

A number of other large investors also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Visa during the fourth quarter worth $5,171,271,000. Vanguard Group Inc. increased its stake in Visa by 4.6% in 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 buying an additional 7,079,706 shares during the period. Raymond James Financial Inc. bought a new stake in Visa during the 4th quarter valued at about $1,955,403,000. Proficio Capital Partners LLC boosted its position in Visa by 17,018.7% in the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after buying an additional 3,926,049 shares during the period. Finally, Sanders Capital LLC bought a new position in Visa in the 4th quarter worth about $623,022,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on V shares. The Goldman Sachs Group boosted their price target on Visa from $346.00 to $384.00 and gave the company a “buy” rating in a report on Friday, January 31st. StockNews.com cut Visa from a “buy” rating to a “hold” rating in a report on Monday, April 7th. Barclays raised their price target on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on shares of Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, UBS Group increased their target price on shares of Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $355.84.

Visa Price Performance

Shares of V stock opened at $335.27 on Tuesday. The stock’s 50-day simple moving average is $342.12 and its 200-day simple moving average is $319.51. The firm has a market capitalization of $622.86 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $366.54.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is 23.79%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the transaction, the chief executive officer now directly owns 537 shares in the company, valued at approximately $194,931. This trade represents a 94.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $874,480.00. Following the sale, the general counsel now directly owns 11,925 shares in the company, valued at $4,054,500. The trade was a 17.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,205 shares of company stock worth $48,842,490 over the last quarter. Insiders own 0.13% of the company’s stock.

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.