Princeton Capital Management LLC Buys 194 Shares of Visa Inc. (NYSE:V)

Princeton Capital Management LLC lifted its stake in shares of Visa Inc. (NYSE:V) by 2.1% in the 4th quarter, Holdings Channel reports. The fund owned 9,246 shares of the credit-card processor’s stock after acquiring an additional 194 shares during the quarter. Visa accounts for approximately 1.0% of Princeton Capital Management LLC’s investment portfolio, making the stock its 24th biggest position. Princeton Capital Management LLC’s holdings in Visa were worth $2,407,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Haverford Trust Co raised its holdings in shares of Visa by 3.3% in the fourth quarter. Haverford Trust Co now owns 27,552 shares of the credit-card processor’s stock valued at $7,173,000 after purchasing an additional 874 shares during the last quarter. M. Kulyk & Associates LLC increased its stake in Visa by 0.7% in the 4th quarter. M. Kulyk & Associates LLC now owns 26,871 shares of the credit-card processor’s stock valued at $6,996,000 after buying an additional 177 shares during the last quarter. EFG Asset Management North America Corp. lifted its position in Visa by 65.1% during the 4th quarter. EFG Asset Management North America Corp. now owns 20,677 shares of the credit-card processor’s stock worth $5,387,000 after buying an additional 8,150 shares in the last quarter. Sound View Wealth Advisors Group LLC boosted its stake in shares of Visa by 1.3% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 23,142 shares of the credit-card processor’s stock worth $6,025,000 after buying an additional 305 shares during the last quarter. Finally, Grafton Street Partners Fund LP bought a new position in shares of Visa in the 4th quarter valued at about $7,710,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on V shares. Citigroup upped their target price on Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Wells Fargo & Company increased their price objective on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Raymond James boosted their target price on shares of Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Royal Bank of Canada increased their price target on shares of Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Redburn Atlantic restated a “neutral” rating and set a $307.00 price objective on shares of Visa in a research note on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $303.76.

Visa Price Performance

Shares of NYSE V traded up $0.38 during midday trading on Friday, reaching $280.22. The company’s stock had a trading volume of 6,177,728 shares, compared to its average volume of 6,373,845. The company has a market cap of $512.51 billion, a P/E ratio of 31.31, a P/E/G ratio of 1.93 and a beta of 0.95. Visa Inc. has a fifty-two week low of $216.14 and a fifty-two week high of $290.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The business’s 50 day moving average price is $277.51 and its two-hundred day moving average price is $268.49.

Visa (NYSE:V) last released its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same period in the prior year, the company posted $2.09 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. On average, analysts forecast that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.74%. The ex-dividend date is Thursday, May 16th. Visa’s dividend payout ratio is currently 23.24%.

Insider Activity

In related news, Director Lloyd Carney sold 909 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at $713,950.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,402 shares of company stock worth $9,559,382. 0.19% of the stock is currently owned by corporate insiders.

About Visa

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.