Turning Point Benefit Group Inc. Buys New Holdings in Visa Inc. (NYSE:V)

Turning Point Benefit Group Inc. purchased a new position in Visa Inc. (NYSE:V) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 1,321 shares of the credit-card processor’s stock, valued at approximately $405,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Riverstone Advisors LLC purchased a new stake in Visa in the 4th quarter worth $217,000. Custom Index Systems LLC purchased a new stake in shares of Visa in the third quarter worth about $731,000. Journey Strategic Wealth LLC boosted its stake in Visa by 16.4% during the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock valued at $3,058,000 after buying an additional 1,361 shares during the last quarter. Copley Financial Group Inc. bought a new stake in Visa in the 3rd quarter worth approximately $616,000. Finally, Calamos Wealth Management LLC raised its holdings in shares of Visa by 0.6% during the 4th quarter. Calamos Wealth Management LLC now owns 77,443 shares of the credit-card processor’s stock worth $24,475,000 after acquiring an additional 435 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the transaction, the chief accounting officer now owns 4,488 shares in the company, valued at $1,569,094.56. The trade was a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,885 shares of company stock worth $19,161,447 in the last ninety days. 0.13% of the stock is owned by insiders.

Visa Stock Performance

Shares of Visa stock opened at $349.46 on Tuesday. Visa Inc. has a one year low of $252.70 and a one year high of $357.15. The company has a market capitalization of $649.21 billion, a PE ratio of 35.23, a P/E/G ratio of 2.33 and a beta of 0.97. 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 company has a 50-day simple moving average of $329.81 and a two-hundred day simple moving average of $303.29.

Visa (NYSE:V) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 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%. Research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be given a $0.59 dividend. The ex-dividend date is Tuesday, February 11th. 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 equities research analysts recently weighed in on the stock. William Blair restated an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Raymond James restated an “outperform” rating and issued a $393.00 target price (up from $374.00) on shares of Visa in a report on Friday, January 31st. Citigroup restated a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Robert W. Baird lifted their price target on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group upped their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average price target of $353.96.

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.