8,081 Shares in Visa Inc. (NYSE:V) Bought by Elevate Capital Advisors LLC

Elevate Capital Advisors LLC acquired a new stake in shares of Visa Inc. (NYSE:V) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,081 shares of the credit-card processor’s stock, valued at approximately $2,554,000. Visa accounts for approximately 2.2% of Elevate Capital Advisors LLC’s holdings, making the stock its 12th largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in V. Peterson Financial Group Inc. purchased a new stake in shares of Visa during the 3rd quarter valued at $26,000. Decker Retirement Planning Inc. bought a new position in Visa in the fourth quarter valued at $26,000. Reston Wealth Management LLC purchased a new stake in Visa during the third quarter valued at about $31,000. Modus Advisors LLC bought a new stake in Visa during the fourth quarter worth about $32,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Visa in the 4th quarter worth about $44,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % 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, insider Tullier Kelly Mahon sold 33,741 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the transaction, the insider now owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,056 shares of company stock valued at $19,830,050 in the last quarter. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays increased their target price on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and set a $393.00 price objective (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Mizuho boosted their target price on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Royal Bank of Canada raised their price target on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Macquarie boosted their price objective on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $354.73.

Visa Stock Down 0.1 %

Visa stock opened at $350.88 on Wednesday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $352.12. The stock has a fifty day simple moving average of $321.77 and a two-hundred day simple moving average of $296.88. The company has a current ratio of 1.12, a quick ratio of 1.28 and a debt-to-equity ratio of 0.45. The firm has a market cap of $651.85 billion, a price-to-earnings ratio of 35.37, a PEG ratio of 2.32 and a beta of 0.97.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating 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%. Equities analysts predict that Visa Inc. will post 11.27 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.67%. Visa’s payout ratio is 23.79%.

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.