Beese Fulmer Investment Management Inc. Has $1.04 Million Position in Visa Inc. (NYSE:V)

Beese Fulmer Investment Management Inc. lowered its position in Visa Inc. (NYSE:V) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,392 shares of the credit-card processor’s stock after selling 130 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Visa were worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its position in Visa by 3.7% during the 1st quarter. State Street Corp now owns 72,897,112 shares of the credit-card processor’s stock valued at $16,435,339,000 after purchasing an additional 2,572,159 shares during the period. Morgan Stanley increased its position in Visa by 13.0% during the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock valued at $10,621,287,000 after purchasing an additional 5,864,340 shares during the period. Price T Rowe Associates Inc. MD increased its position in Visa by 4.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 51,100,136 shares of the credit-card processor’s stock valued at $10,616,564,000 after purchasing an additional 2,216,275 shares during the period. Geode Capital Management LLC increased its position in Visa by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 32,221,146 shares of the credit-card processor’s stock valued at $6,683,673,000 after purchasing an additional 640,839 shares during the period. Finally, Moneta Group Investment Advisors LLC increased its position in Visa by 116,608.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock valued at $5,090,978,000 after purchasing an additional 24,483,134 shares during the period. Institutional investors and hedge funds own 81.35% of the company’s stock.

Visa Trading Up 1.5 %

Shares of Visa stock opened at $244.64 on Tuesday. Visa Inc. has a 1 year low of $174.60 and a 1 year high of $250.06. The firm has a market cap of $455.48 billion, a PE ratio of 31.05, a P/E/G ratio of 1.81 and a beta of 0.95. The stock has a fifty day moving average price of $241.67 and a 200-day moving average price of $232.37. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.49.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.05. Visa had a return on equity of 49.42% and a net margin of 51.94%. The firm had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same period last year, the firm posted $1.98 EPS. The business’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 8.65 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Thursday, August 10th. Visa’s dividend payout ratio is presently 22.84%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on V. Oppenheimer reaffirmed an “outperform” rating and set a $248.00 price objective on shares of Visa in a research report on Monday, July 24th. StockNews.com began coverage on shares of Visa in a research report on Thursday, August 17th. They set a “buy” rating for the company. Barclays raised their price objective on shares of Visa from $272.00 to $287.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Royal Bank of Canada raised their price objective on shares of Visa from $265.00 to $290.00 in a research report on Wednesday, July 26th. Finally, Bank of America raised their price objective on shares of Visa from $270.00 to $275.00 in a research report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $273.77.

Insider Activity

In related news, insider Rajat Taneja sold 2,300 shares of Visa stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total value of $552,000.00. Following the completion of the sale, the insider now owns 232,112 shares of the company’s stock, valued at approximately $55,706,880. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Ryan Mcinerney sold 425 shares of Visa stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $240.00, for a total value of $102,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rajat Taneja sold 2,300 shares of Visa stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total value of $552,000.00. Following the completion of the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $55,706,880. The disclosure for this sale can be found here. Insiders sold a total of 81,550 shares of company stock valued at $19,795,806 in the last ninety days. 0.21% of the stock is currently owned by insiders.

Visa Profile

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.