Sunbeam Capital Management LLC Purchases New Position in Visa Inc. (NYSE:V)

Sunbeam Capital Management LLC acquired a new position in Visa Inc. (NYSE:V) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,155 shares of the credit-card processor’s stock, valued at approximately $365,000. Visa accounts for about 0.8% of Sunbeam Capital Management LLC’s holdings, making the stock its 28th largest position.

A number of other hedge funds have also bought and sold shares of V. Bradley & Co. Private Wealth Management LLC purchased a new position in Visa during the fourth quarter valued at approximately $27,000. POM Investment Strategies LLC grew its position in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after purchasing an additional 32 shares in the last quarter. Compass Planning Associates Inc bought a new position in shares of Visa in the fourth quarter worth $32,000. NewSquare Capital LLC purchased a new stake in shares of Visa in the fourth quarter worth $35,000. Finally, FPC Investment Advisory Inc. raised its position in shares of Visa by 377.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock worth $36,000 after buying an additional 83 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Down 1.1%

Shares of Visa stock opened at $354.04 on Friday. The company’s 50 day moving average price is $341.47 and its 200-day moving average price is $331.75. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $369.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $653.27 billion, a price-to-earnings ratio of 35.69, a P/E/G ratio of 2.33 and a beta of 0.96.

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

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be issued 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 0.67%. Visa’s dividend payout ratio is presently 23.72%.

Wall Street Analysts Forecast Growth

V has been the topic of a number of research analyst reports. Piper Sandler upped their target price on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Evercore ISI started coverage on shares of Visa in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price objective on the stock. The Goldman Sachs Group lifted their target price on shares of Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research report on Friday, January 31st. 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, William Blair reissued an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $362.38.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the sale, the chief executive officer now owns 537 shares in the company, valued at $194,931. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,948 shares of company stock valued at $41,548,282 over the last quarter. 0.13% of the stock is owned by company insiders.

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.