Visa Inc. (NYSE:V) Shares Bought by Ignite Planners LLC

Ignite Planners LLC grew its stake in shares of Visa Inc. (NYSE:V) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,862 shares of the credit-card processor’s stock after acquiring an additional 40 shares during the period. Ignite Planners LLC’s holdings in Visa were worth $901,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after acquiring an additional 3,327,977 shares in the last quarter. FMR LLC boosted its holdings in shares of Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after buying an additional 3,265,518 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Visa by 7.7% in the 3rd 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 during the period. Ameriprise Financial Inc. boosted its holdings in shares of Visa by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after buying an additional 345,829 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Visa by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after buying an additional 312,286 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Up 0.8 %

V stock opened at $309.24 on Wednesday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $321.61. The firm has a market cap of $576.08 billion, a PE ratio of 31.78, a P/E/G ratio of 2.11 and a beta of 0.96. The firm has a 50 day simple moving average of $312.76 and a 200 day simple moving average of $287.65. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the business earned $2.33 earnings per share. The firm’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts forecast that Visa Inc. will post 11.23 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is currently 24.25%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on V shares. TD Cowen lifted their price target on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their price target on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Citigroup lifted their price objective on shares of Visa from $326.00 to $354.00 and gave the company a “buy” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $331.92.

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.