City National Bank of Florida MSD Makes New $899,000 Investment in Visa Inc. (NYSE:V)

City National Bank of Florida MSD purchased a new stake in Visa Inc. (NYSE:V) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 2,845 shares of the credit-card processor’s stock, valued at approximately $899,000. Visa accounts for 0.8% of City National Bank of Florida MSD’s holdings, making the stock its 21st largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Visa in the fourth quarter valued at about $5,171,271,000. Vanguard Group Inc. lifted its holdings in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after purchasing an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Visa in the 4th quarter valued at approximately $1,955,403,000. Proficio Capital Partners LLC increased its stake in Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after purchasing an additional 3,926,049 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Visa by 18.0% during the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after purchasing an additional 2,785,707 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on V shares. UBS Group lowered their price objective on shares of Visa from $400.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Bank of America boosted their price objective on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Citigroup reiterated a “neutral” rating on shares of Visa in a report on Thursday, February 13th. Raymond James reissued an “outperform” rating and issued a $393.00 price target (up previously from $374.00) on shares of Visa in a research note on Friday, January 31st. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $362.38.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the completion of the sale, the chief executive officer now owns 537 shares of the company’s stock, valued at $188,186.28. The trade was a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 14,813 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the transaction, the insider now directly owns 26,413 shares in the company, valued at $9,377,671.52. This represents a 35.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,948 shares of company stock valued at $41,548,282 in the last three months. 0.13% of the stock is currently owned by company insiders.

Visa Stock Performance

Shares of NYSE V opened at $358.59 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $661.66 billion, a P/E ratio of 36.15, a P/E/G ratio of 2.33 and a beta of 0.96. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $369.15. The stock has a 50 day moving average of $340.60 and a 200-day moving average of $330.88.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.51 earnings per share. As a group, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. Visa’s dividend payout ratio (DPR) is currently 23.72%.

Visa Profile

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.