Absoluto Partners Gestao de Recursos Ltda Purchases 3,038 Shares of Visa Inc. (NYSE:V)

Absoluto Partners Gestao de Recursos Ltda raised its position in shares of Visa Inc. (NYSE:V) by 82.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,718 shares of the credit-card processor’s stock after acquiring an additional 3,038 shares during the quarter. Visa comprises 1.9% of Absoluto Partners Gestao de Recursos Ltda’s investment portfolio, making the stock its 11th biggest holding. Absoluto Partners Gestao de Recursos Ltda’s holdings in Visa were worth $2,123,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Riverstone Advisors LLC acquired a new position in shares of Visa during the fourth quarter valued at about $217,000. Blue Rock Wealth Management LLC acquired a new position in Visa during the 4th quarter worth approximately $306,000. Journey Strategic Wealth LLC boosted its holdings in Visa by 16.4% in the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after acquiring an additional 1,361 shares in the last quarter. King Wealth Management Group grew its stake in Visa by 9.0% in the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after acquiring an additional 6,172 shares during the period. Finally, Eagle Strategies LLC increased its holdings in shares of Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock valued at $811,000 after acquiring an additional 63 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

Visa stock opened at $347.66 on Friday. The business’s 50 day simple moving average is $337.61 and its 200 day simple moving average is $324.57. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The company has a market cap of $645.87 billion, a price-to-earnings ratio of 35.05, a PEG ratio of 2.33 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter in the prior year, the firm earned $2.51 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa’s payout ratio is 23.79%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on V. JPMorgan Chase & Co. lifted their price target on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Visa in a report on Thursday, February 13th. Macquarie lowered their target price on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a report on Wednesday. Susquehanna reiterated a “positive” rating on shares of Visa in a research note on Friday, March 21st. Finally, Wells Fargo & Company boosted their price objective on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $362.38.

Insider Buying and Selling

In other Visa news, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the sale, the chief accounting officer now owns 4,488 shares of the company’s stock, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $185,576.46. This trade represents a 94.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 154,400 shares of company stock valued at $52,711,258. Corporate insiders own 0.13% of the company’s stock.

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.