Spinnaker Investment Group LLC Invests $213,000 in Visa Inc. (NYSE:V)

Spinnaker Investment Group LLC purchased a new position in shares of Visa Inc. (NYSE:VFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 817 shares of the credit-card processor’s stock, valued at approximately $213,000.

Other hedge funds also recently modified their holdings of the company. BCK Partners Inc. bought a new position in Visa during the first quarter worth $2,717,000. Markel Corp raised its stake in Visa by 0.3% during the first quarter. Markel Corp now owns 961,105 shares of the credit-card processor’s stock worth $213,144,000 after buying an additional 3,065 shares during the last quarter. AMI Investment Management Inc. bought a new position in Visa during the first quarter worth $2,323,000. Ergoteles LLC bought a new position in Visa during the first quarter worth $538,000. Finally, XTX Topco Ltd bought a new position in Visa during the first quarter worth $1,496,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Rajat Taneja sold 36,546 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $270.20, for a total value of $9,874,729.20. Following the sale, the insider now owns 232,112 shares of the company’s stock, valued at $62,716,662.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $150,833.68. The disclosure for this sale can be found here. Insiders have sold a total of 55,511 shares of company stock worth $15,131,081 over the last three months. 0.19% of the stock is currently owned by insiders.

Visa Stock Up 0.1 %

V opened at $278.55 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54. The stock has a market cap of $511.56 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 1.92 and a beta of 0.96. Visa Inc. has a twelve month low of $216.14 and a twelve month high of $290.96. The company’s 50-day moving average price is $279.62 and its two-hundred day moving average price is $259.44.

Visa (NYSE:VGet Free Report) last released its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.07. The firm had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.55 billion. Visa had a net margin of 53.92% and a return on equity of 50.02%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.18 earnings per share. As a group, equities analysts expect that Visa Inc. will post 9.89 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Thursday, February 8th. Visa’s payout ratio is 23.94%.

Wall Street Analyst Weigh In

V has been the subject of several research analyst reports. Wedbush lifted their price target on shares of Visa from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. BMO Capital Markets initiated coverage on shares of Visa in a research note on Tuesday, December 5th. They issued an “outperform” rating and a $280.00 price target for the company. KeyCorp lifted their price target on shares of Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, January 8th. Raymond James lifted their price target on shares of Visa from $287.00 to $311.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Finally, Monness Crespi & Hardt initiated coverage on shares of Visa in a research note on Wednesday, December 20th. They issued a “neutral” rating for the company. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Visa has an average rating of “Moderate Buy” and an average target price of $295.82.

Get Our Latest Research Report on Visa

About Visa

(Free Report)

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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